Access Bank has finally acquired Diamond Bank, TheCable can report.
According to insiders, the official announcement of the transaction will be made in
The acquisition was midwifed by the CBN in a bid to further consolidate the banking industry, sources informed TheCable.
A Diamond Bank official who spoke to TheCable said there was no need for the public to panic as “the bank is in safe hands”.
Journey to acquisition
Last week, Diamond Bank announced its decision to drop its international operating licence to focus on national operations following capitalisation issues.
Uzoma Dozie, the bank’s chief executive officer, had confirmed in a statement released on Friday that it would cease to operate as an international bank.
“The re-licensing as a national bank supports Diamond Bank’s objective of streamlining its operations to focus resources on the significant opportunities in the Nigerian retail banking market, and the economy as a whole,” he had said in a statement.
“The move follows Diamond Bank’s decision to sell its international operations, which included the...
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