‘Access Bank has a strong acquisition record’ — Wigwe speaks on Diamond takeover - Welcome to Uju Ayalogu's Blog

Breaking News

Post Top Ad

Monday, 17 December 2018

‘Access Bank has a strong acquisition record’ — Wigwe speaks on Diamond takeover

‘Access Bank has a strong acquisition record’ — Wigwe speaks on Diamond takeover

Herbert Wigwe, CEO of Access Bank, says the bank has a strong acquisition and integration track record.

Speaking to the conclusive acquisition of Diamond Bank, Wigwe said the banks involved have complementary operations that will ensure benefits for customers of Access Bank and Diamond Bank.

“Access Bank has a strong track record of acquisition and integration and has a clear growth strategy,” Wigwe said via joint statement with Diamond Bank on Monday.

READ ALSO :   ‘We’ll become biggest retail bank in Africa’ — Diamond announces merger with Access Bank

“Access Bank and Diamond Bank have complementary operations and similar values, and a merger with Diamond Bank, with its leadership in digital and mobile-led retail banking, could accelerate our strategy as a significant corporate and retail bank in Nigeria and a Pan-African financial services champion.

“Access Bank has a strong financial profile with attractive returns and a robust capital position with 20.1% CAR as at 30 September 2018.

“We believe that this platform, together with the two banks’ shared focus on innovation, financial inclusion, and sustainability, can bring benefits to Access Bank and Diamond Bank customers, staff and shareholders.”

According to both banks, Exotix Capital acted as international financial advisor to Diamond Bank, and Templars acted as Nigerian legal counsel.

The acquisition is expected to be completed by the first half of 2019.

Access Bank took acquired Intercontinental Bank in 2011/2012 to become one of the biggest banks in Nigeria.

READ ALSO :   “May Your Road To 2019 Be Like Nigerian Roads” – Charlyboy Bombs Buhari

Are you an artiste? Do you want your music to go viral and reacha large number of audience? Promote your music and Submit your story on Ujuayalogusblog.com by clicking here. For Advert Inquiries Tel/+44(0)7590363984 Subscribe to Ujuayalogusblog.com

For More:  Visit Us at Uju Ayalogu's Blog


Share This

No comments:

Post a Comment

Post Bottom Ad

Pages