Access Bank Are Set To Acquire Zambian Bank, Cavmont Limited.

According to media eports, Access Bank Plc has notified shareholders of moves by its acquire Cavmont Bank Limited, a Zambian Bank..

In a notice published on the Nigeria Stock Exchange website, Access Bank said there is no certainty that a transaction would be agreed on yet.

A notice signed Sunday Ekwochi, Access Bank company secretary, read that,

“There can be no certainty that a transaction will be agreed, nor as to the terms of any such agreement. The completion of a transaction would be subject to formal regulatory approvals, adding that Access Bank will update the market as appropriate and in accordance with its’ disclosure obligations.

Recall that on April 1, 2019, Access Bank acquired Diamond Bank Plc; a move that made it the largest bank by customer base in Nigeria.

On January 17, 2020, the bank also announced that it had received approval from the Central Bank of Nigeria and other relevant authorities to acquire majority equity share in Transnational Bank Plc, a Kenyan-based bank.