Access Bank acquires another bank in Zambia

Access Bank acquires another bank in Zambia

Access Bank acquires another bank in Zambia


 

Access Bank Plc has announced the completion by it’s Zambian subsidiary of Cavmont Bank Limited (Cavmont ppl), following fulfillment of the key conditions precedent including regulatory approvals.

In a statement on Wednesday, the lender explained that the merger of Cavmont into Access Bank Zambia is expected to take place before the end of January 2021.

After then, “Access Bank Zambia will emerge as a stronger and well-capitalized 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 realizing the synergies from the transaction and achieving further growth of the combined platform to the benefit of all stakeholders,” the lender explained.