Deals
Access Bank Sees Diamond Takeover Lifting Earnings by 2021
- Lender says acquisition to create Africa’s largest retail bank
- Diamond Bank will continue with the sale of its U.K. unit
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Access Bank Plc, which plans to create Africa’s largest retail lender by customers with the takeover of Diamond Bank Plc, expects that the deal will start adding to earnings by the third year.
“Integration comes with issues,” Access Bank Chief Executive Officer Herbert Wigwe said in an interview in Lagos on Wednesday. “We want to ensure that all our staff get working so that we don’t suffer the problems most mergers have. We want to start seeing the benefit from the second and third year.”