Access Bank Plc has made a successfully completed the acquisition of Cavmont Bank Limited in Zambia.
The Board of Access Bank yesterday affirmed that Access Bank’s Zambian subsidiary, Access Bank (Zambia) Limited has completed the acquisition of Cavmont Bank Limited (Cavmont), following fulfilment of the key conditions precedent, including regulatory approvals.
In a regulatory filing signed by Company Secretary, Access Bank Plc, Sunday Ekwochi, the bank stated that the merger of Cavmont into Access Bank Zambia is expected to take place before the end of this month.
The bank noted that with the merger, Access Bank Zambia will emerge as a stronger and well-capitalised banking franchise with improved scale and capacity to deliver sustainable and best-in-class financial services in the Zambian market.
“Growing our presence in Zambia remains a strategic priority for Access Bank,” the statement reads.