{"id":70320,"date":"2023-03-24T18:49:23","date_gmt":"2023-03-24T17:49:23","guid":{"rendered":"https:\/\/nationalwire.com.ng\/?p=70320"},"modified":"2023-03-24T18:49:23","modified_gmt":"2023-03-24T17:49:23","slug":"merger-between-access-bank-zambia-limited-and-african-banking-corporation-zambia-limited-gets-regulators-approval","status":"publish","type":"post","link":"https:\/\/nationalwire.com.ng\/sub\/merger-between-access-bank-zambia-limited-and-african-banking-corporation-zambia-limited-gets-regulators-approval\/","title":{"rendered":"Merger Between Access Bank Zambia Limited And African Banking Corporation Zambia Limited Gets Regulators Approval\u00a0"},"content":{"rendered":"

Further to its announcement on October 25, 2021, Access Holdings Plc (Access Holdings\u2019) is pleased to announce that Access Bank Zambia Limited (\u201cAccess Zambia\u201d), a subsidiary of its flagship subsidiary, Access Bank Plc , has received final regulatory approval from the Central Bank of Zambia for the acquisition and merger of African Banking Corporation Zambia Limited (\u201cAtlas Mara Zambia\u201d) into its existing operations (\u2018the Transaction\u2019).<\/p>\n

The Central Bank of Nigeria and Common Market for Eastern and Southern Africa Competition Commission had earlier granted their \u201cno objection\u201d to the Transaction in 2022.<\/p>\n

According to Access Bank secretary, Mr. Sunday Ekwochi in a terse statement on Friday, he said Access Zambia will now move towards integrating and merging Atlas Mara Zambia into its operations, which is expected to create one of the top five banks in Zambian.<\/p>\n

Commenting on the transaction, Dr. Herbert Wigwe, Group Chief Executive Access Holdings said: \u201cThe transaction builds on our earlier acquisition and merger of Cavmont Bank Plc into Access Bank Zambia and underscores our resolve to strengthen our presence in Zambia, a key African market that fits into our strategic focus on geographic earnings growth and diversification.The combination of the two banks will create significant synergies between Access Zambia\u2019s world class wholesale and transaction banking capabilities and Atlas Mara Zambia\u2019s market leading retail and public sector capabilities to form a market leading universal banking platform that will greatly impact the Zambia market\u201d<\/p>

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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

The Transaction is expected to be completed in Q3, 2023.<\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

Further to its announcement on October 25, 2021, Access Holdings Plc (Access Holdings\u2019) is pleased to announce that Access Bank Zambia Limited (\u201cAccess Zambia\u201d), a subsidiary of its flagship subsidiary, Access Bank Plc , has received final regulatory approval from the Central Bank of Zambia for the acquisition and merger of African Banking Corporation Zambia Limited (\u201cAtlas Mara Zambia\u201d) into its existing operations (\u2018the Transaction\u2019).<\/p>\n","protected":false},"author":6,"featured_media":34531,"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":[23,17],"tags":[9562,6471],"coauthors":[2391],"class_list":["post-70320","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-business","category-news","tag-access-bank-holdco","tag-access-bank-plc"],"yoast_head":"\nMerger Between Access Bank Zambia Limited And African Banking Corporation Zambia Limited Gets Regulators Approval\u00a0 - 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