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.
“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.