Access Bank Completes Acquisition Of Majority Stake In Angolan’s Finibanco
Access Bank Plc, the flagship subsidiary of Access Holdings, has completed its acquisition of majority equity in Angolan entity, Finibanco Angola S.A.
This was revealed in a notice filed on the Nigerian Exchange Limited on Thursday.
Access Holdings had earlier announced the deal last year and had received regulatory approvals in Nigeria and Angola.
Speaking on the development, the Group Chief Executive Officer, Access Holdings, Dr. Herbert Wigwe, said, “In anticipation of the completion of the transaction, the bank has made excellent progress in integration planning.
“Our plan is to leverage our expansive distribution network, best-in-class technology, risk, and governance practices to serve high-growth businesses and the rising consumer sector in Angola.
“We will act as a positive catalyst to foster greater innovation and promote the deepening of the financial sector in Angola in line with our strategic growth objective in the broader South African Development Community while delivering value to our stakeholders.”