Access And Diamond Bank Merger Finalized

Access Bank and Diamond  Bank have announced that the Central Bank of Nigeria (CBN) and the Securities  and Exchange  Commission (SEC)  have given them the final  approval to the proposed scheme  of merger between both financial institutions.

The Group  Managing  Director, Access Bank Plc,  Herbert  Wigwe,  stated during  the EGM with shareholders that following the completion of the merger, there will be more opportunities in Key units like  trade finance from International partners which in turn will bolster the bank’s brand as well as opening doors of opportunities in both local and international markets.

“Access Bank Plc is pleased to announce that the bank has received the final approval of both the Central Bank of Nigeria (CBN) and the Securities and Exchange Commission (SEC) to the proposed scheme of merger between the bank and Diamond Bank.

“The scheme is subject to judicial sanction by the Federal High Court. We will provide further update to the market upon receipt of court sanction of the scheme,” he said.

For his part, Chief Executive Officer, Diamond Bank Plc, Uzoma Dozie, said, “I am happy that the shareholders of Diamond bank have supported this merger. The merger will bring together the complementary retail and corporate banking capabilities of two of Nigeria’s leading banks; creating Africa’s largest retail bank by customer base and Gateway to the World.

FROM  /aledeh.com/