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…As Diamond Bank Received Shareholders Nod To Proceed
Access Bank on Tuesday at a court ordered meeting received its shareholders approval to merger with Diamond Bank, even as the bank’s management assured investors of maximum benefit on the scheme.
The court ordered meeting which was dated 24th January, secured over 97 percent shareholders vote to ensure the success of the scheme merger, which investment analyst has since described as a positive measure that we give birth to the largest depositors in sub- Saharan Africa.
Similarly, the management of Diamond Bank also earlier in the day during its court ordered meeting received over 99 percent approval of its shareholders to go ahead with the merger scheme with Access Bank Plc.
Mr Herbert Wigwe, Access Bank’s Chief Executive Officer, while speaking on the benefits of the bank’s merger with Diamond Bank Plc said the merger would attract more opportunities such as trade finance from international partners.
“With the final merger of both banks and the status of the resulting entity as ‘the largest bank in Africa’s largest economy,’ this greatly bolsters the bank’s brand, opening doors of opportunity both in local and international markets,” he said.
Wigwe said the merger was expected to produce the largest banking group in Africa based on its number of customers with more than 29 million customers.
“The resulting entity which will have more than 29 million customers, 13 million of which are mobile customers,” he said.
Wigwe said the bank would be a continental force with presence in 12 countries, 3,100 ATMS and nearly 32, 000 Point of Sale.
Access Bank Plc on Friday said it would be well positioned to attract more opportunities from international partners with its Diamond Bank merger.
Mr Herbert Wigwe, the bank’s Chief Executive Officer, said this in Lagos while speaking on the benefits of its merger with Diamond Bank Plc.
Wigwe said the bank, after the merger, would attract more opportunities such as trade finance from international partners.
“With the final merger of both banks and the status of the resulting entity as ‘the largest bank in Africa’s largest economy,’ this greatly bolsters the bank’s brand, opening doors of opportunity both in local and international markets,” he said.
Wigwe said the merger was expected to produce the largest banking group in Africa based on its number of customers with more than 29 million customers.
“The resulting entity which will maintain the brand name Access Bank, but with Diamond Bank colors, will have more than 29 million customers, 13 million of which are mobile customers,” he said.
Wigwe said the bank would be a continental force with presence in 12 countries, 3,100 ATMS and nearly 32, 000 Point of Sale.
“As a continental financial force, it is set to attract more opportunities such as trade finance from international partners seeking multinational lenders with local intelligence,” he stated.
He explained that Diamond Bank merging with Access Bank merging also means customers of the former can enjoy access to the latter’s strong balance sheet, ubiquitous presence and solid operational structure.
“Diamond Bank has formidable retail business with the largest retail customer base in Nigeria, over 17 million customers. Diamond Bank also has a track record of customer acquisition and low cost liabilirties generation. The enlarged Access Bank will serve 27 million retail customers, almost double the number customers of any other bank in Nigeria and more than any other bank in Africa, “ Wigwe said.
