Oluchi Chibuzor writes on Access Bank Plc’s aggressive expansion drive in the continent
The recent revelation that Access Bank Plc is among the list of financial institutions from Africa and the Middle East that have expressed interest in the acquisition of Union Bank Plc and other African assets of Atlas Mara Group, a Pan-African banking group, is a cheering news.
Atlas Mara Limited, the London Stock Exchange-listed pan-African banking group started by Mr. Bob Diamond, it was gathered has received a number of approaches for its 49.97 per cent holding in Union Bank of Nigeria.
Indeed, listing Access Bank Plc among the suitors is a clear reflection of the resolve of the financial institution headed by Herbert Wigwe, its chief executive officer, not to relent in its aggressive expansion drive.
By Nume Ekeghe
Following the completion of all regulatory procedures, Grobank Limited has been officially renamed Access Bank South Africa Limited.
The deal was finalised after Access Bankâs acquisition of controlling shares in the former Grobank Limited, South Africa.
According to a statement from the Nigerian lender yesterday, with this development, âAccess Bank South Africa Limited is positioned to deliver a robust banking operation that connects key African markets.â
It stated that at an official closing ceremony in Sandton, top executives of the two banks were upbeat about new opportunities for clients, noting that the bank will continue to support all its stakeholders, while opening doors to growth opportunities both in the short and long term.