{"id":30336,"date":"2019-03-05T23:12:42","date_gmt":"2019-03-05T22:12:42","guid":{"rendered":"https:\/\/nationalwire.com.ng\/?p=30336"},"modified":"2019-03-06T13:13:52","modified_gmt":"2019-03-06T12:13:52","slug":"access-bank-gets-shareholders-approval-to-merger-with-diamond-bank","status":"publish","type":"post","link":"https:\/\/nationalwire.com.ng\/sub\/access-bank-gets-shareholders-approval-to-merger-with-diamond-bank\/","title":{"rendered":"Access Bank Gets Shareholders Approval To Merge With Diamond Bank"},"content":{"rendered":"

…As Diamond Bank Received Shareholders Nod To Proceed<\/p>\n

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.<\/p>\n

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.<\/p>\n

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.<\/p>\n

Mr Herbert Wigwe, Access Bank\u2019s Chief Executive Officer, while speaking on the benefits of the bank\u2019s merger with Diamond Bank Plc said the merger would attract more opportunities such as trade finance from international partners.<\/p>\n

\u201cWith the final merger of both banks and the status of the resulting entity as \u2018the largest bank in Africa\u2019s largest economy,\u2019 this greatly bolsters the bank\u2019s brand, opening doors of opportunity both in local and international markets,\u201d he said.<\/p>\n

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.<\/p>\n

\u201cThe resulting entity which will have more than 29 million customers, 13 million of which are mobile customers,\u201d he said.<\/p>\n

Wigwe said the bank would be a continental force with presence in 12 countries, 3,100 ATMS and nearly 32, 000 Point of Sale.<\/p>\n

Access Bank Plc on Friday said it would be well positioned to attract more opportunities from international partners with its Diamond Bank merger.<\/p>

\r\n
Advertisement<\/div>\r\n\t\t\t\t\t\t\t<\/a>\r\n \r\n\t\t\t\t\t\t\t<\/div>\n

Mr Herbert Wigwe, the bank\u2019s Chief Executive Officer, said this in Lagos while speaking on the benefits of its merger with Diamond Bank Plc.
\nWigwe said the bank, after the merger, would attract more opportunities such as trade finance from international partners.<\/p>\n

\u201cWith the final merger of both banks and the status of the resulting entity as \u2018the largest bank in Africa\u2019s largest economy,\u2019 this greatly bolsters the bank\u2019s brand, opening doors of opportunity both in local and international markets,\u201d he said.<\/p>\n

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.<\/p>\n

\u201cThe 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,\u201d he said.<\/p>\n

Wigwe said the bank would be a continental force with presence in 12 countries, 3,100 ATMS and nearly 32, 000 Point of Sale.<\/p>\n

\u201cAs a continental financial force, it is set to attract more opportunities such as trade finance from international partners seeking multinational lenders with local intelligence,\u201d he stated.<\/p>\n

He explained that Diamond Bank merging with Access Bank merging also means customers of the former can enjoy access to the latter\u2019s strong balance sheet, ubiquitous presence and solid operational structure.<\/p>\n

\u201cDiamond 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, \u201c Wigwe said.<\/p>\n","protected":false},"excerpt":{"rendered":"

Access Bank on Tuesday at a court ordered meeting received its shareholders approval to merger with Diamond Bank, even as the bank’<\/p>\n","protected":false},"author":6,"featured_media":30090,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[23,1593,17,624],"tags":[793,347],"coauthors":[2391],"class_list":["post-30336","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-business","category-metro","category-news","category-politics","tag-access-bank","tag-diamond-bank"],"yoast_head":"\nAccess Bank Gets Shareholders Approval To Merge With Diamond Bank - National Wire<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/nationalwire.com.ng\/sub\/access-bank-gets-shareholders-approval-to-merger-with-diamond-bank\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Access Bank Gets Shareholders Approval To Merge With Diamond Bank - 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