Further to our July 14, 2023 announcement regarding the above subject, Access Holdings PLC (‘Access Holdings’ or ‘the Company’) is pleased to announce that its flagship subsidiary, Access Bank PLC (‘Access Bank’ or ‘the Bank’) has completed the acquisition of Standard Chartered Bank Angola S.A and Standard Chartered Bank (Sierra Leone] Limited (‘the Acquisitions’).
Commenting on the completion milestone, Roosevelt Ogbonna, the MD/CEO of Access Bank PLC and CEO of the Banking Group said:
‘We are pleased to have successfully concluded 2
important acquisitions in Angola and Sierra Leone, affording us synergies to
strengthen the quality of our earnings from both countries by significantly
growing our share of the Corporate and SME banking in the two markets. The
combinations represent another significant step towards our broader vision of
becoming the Worlds Most Respected African Bank.’
The parties are working on the completion of
transactions that would see Access Bank acquire Standard Chartered Bank’s
subsidiaries in Cameroon, the Gambia and its Consumer, Private and
Business Banking business in Tanzania.
Access Holdings shall continue to make disclosures
as and when required.
COMPANY SECRETARY
About Access Holdings PLC
Access Holdings PLC (‘the Company’) operates
through a network of more than 700 branches and service outlets, spanning three
continents, 23 countries and over 60 million customers. The Company serves its
various markets through four subsidiaries across the banking, payment, pension
administration and insurance sectors through four operating companies, viz:
Access Bank PLC, Hydrogen Payment Services Company Limited, Access Pensions
Limited, and Access Insurance Brokers Limited.
Access Bank PLC serves its various
markets through three business segments-
Corporate and Investment, Commercial and Retail and has enjoyed what is
Africa’s most successful banking growth trajectory in the last twenty-two
years. Following its merger with Diamond Bank in March 2019, Access Bank Plc
became one of Africa’s largest retail banks by customer base and the Nigeria's
largest bank by total assets.
Hydrogen Payment Services
Company Limited, the payment company, leverages the strong suite of the Bank’s
existing assets and customer base, creating a super fintech that will be
Africa’s most powerful business services network. Hydrogen being a company of
African heritage has a clear understanding of the unique payment challenges
across the continent and is positioned to address these challenges with its
offerings. Its range of products and services, such as InstantPay, Payment
gateway, POS services, Card and Switch processing are gaining traction in the
marketplace and addressing the unique needs of customers.
Access ARM Pensions
Limited, formerly Access Pensions Limited, is one of Nigeria’s
largest Pension Funds Administrator (‘PFA’) by customer base and Assets Under
Management, with nearly ₦3 trillion in assets under management and serving over
2 million Retirement Savings Account holders.
Access
ARM Pensions Limited is the product of several separate entities. The erstwhile
Access Pensions Limited first became a subsidiary of Access Holdings following the
acquisitions of the former First Guarantee Pension Limited and Sigma Pensions
Limited and their subsequent merger. Subsequently, Access Pensions Limited
merged with ARM Pensions Managers Limited to then form Access ARM Pensions
Limited. As one of Nigeria’s leading PFAs, Access ARM Pensions Limited will leverage key
relationships and Access’ growing ecosystem across Africa to unlock greater
opportunities for customers.
Access Insurance
Brokers Limited is a company licensed by the National Insurance Commission that provides
intelligent solutions that mitigate the unique risks faced by individuals and
business in an ever-changing world using leading risk management tools and
governance standards.
The Company strives to
invest in businesses that are committed to sustainable practices and have a
positive impact on the environment.
For media inquiries,
please contact:
Olakunle
Aderinokun
Head, Media Relations
Access Holdings PLC
+2348033204315
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