ACCESS/DIAMOND BANK MERGER: We expect final regulatory approval in HI’19 – Wigwe
The Chief Executive Officer, Access Bank Plc, Mr Herbert Wigwe, in this interview, spoke on a lot of issues surrounding the proposed merger between Access Bank and Diamond Bank Plc as well as the benefits of the merger to the shareholders, customers and banking industry among others. Excerpts:
WHAT prompted Access Bank to a merger with Diamond Bank?
It (the merger) followed the signing of the Memorandum of Agreement and announcement of headline terms. In the memorandum of agreement to get into a merger with Diamond Bank, we believe that the combined enterprise will be a large diversified bank with an extreme extensive retail foot print. Together we will have 27 million customers which is basically the largest customer base of any bank in the continent, about 33,000 Point of Sale, PoS, terminals, and 3,000 Automated Teller Machines, ATMs, as well as 13 million mobile customers. Read More