Access Bank Plc and Diamond Bank Plc are expected to start operating as a single entity from April 1, 2019. This, would be under a new enlarged Access Bank brand.
The Managing Director of Access Bank, Herbert Wigwe and his Diamond Bank counterpart, Uzoma Dozie, disclosed this in a joint statement to customers obtained recently.
But finalising the merger proposes would be after the deal has been sanctioned by the Federal High Court expected in the coming days, followed by final Securities and Exchange Commission and Central Bank of Nigeria regulatory approvals, they elucidate.
“We are delighted that shareholders of both companies supported the merger. It is a testament to what we have said before: together we are stronger and can offer more opportunities for our employees, more products and services for you, our customers and more benefits for all our stakeholders.
“This approval puts us a step closer to becoming bigger, better and stronger Access Bank, one of Africa’s largest banks by number of customers,” the statement explained.
They disclosed that a team of brand experts have been working to create a fusion of both banks, adding that the new brand would reflect both banks’ shared purpose to help people achieve their dreams and in doing so, for Africa to take its place on the world stage.