Access Bank Plc has concluded the acquisition of Cavmont Bank Limited by its Zambian subsidiary.
This was disclosed in a statement by the bank’s Company Secretary, Sunday Ekwochi, on Wednesday.
It stated that the acquisition was completed after the bank fulfilled key conditions, including regulatory approvals.
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“The merger of Cavmont into Access Bank Zambia is expected to take place before the end of January.
“Following which Access Bank Zambia will emerge as a stronger 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 and with the conclusion of the proposed merger with Cavmont, the bank looks forward to realising the synergies from the transaction,” the statement said.
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