Leading financial institution, Access Bank Plc. has completed the acquisition of Cavmont Bank in Zambia.
The Board of Access Bank Plc made the announcement on Wednesday, January 6th, 2021.
The bank disclosed that its Zambian subsidiary, Access Bank (Zambia) Limited completed the acquisition of Cavmont Bank Limited, following fulfilment of the key conditions precedent including regulatory approvals.
The bank said; “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 and achieving further growth of the combined platform to the benefit of all stakeholders.”
For those who don’t know, the merger of Cavmont into Access Bank Zambia will take place before the end of January 2021 and Access Bank Zambia will emerge as stronger, well-capitalised banking franchise with improved scale and capacity to deliver best-in-class financial services in the Zambian market.