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Monday, December 17, 2018

Diamond Bank confirms merger with Access Bank, gives reasons


Diamond bank has confirmed its merger with Access Bank Plc, stating that the development is in the best interest of all stakeholders including, employees, customers, depositors and shareholders





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Diamond Bank confirms merger with Access Bank, gives reasons

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Diamond bank has confirmed its merger with Access Bank Plc, stating that the development is in the best interest of all stakeholders including, employees, customers, depositors and shareholders.
In a statement signed by Chioma Afe, Head, Corporate Communications of Diamond Bank, it was confirmed that the proposed merger would involve Access Bank acquiring the entire issued share capital of Diamond Bank in exchange for a combination of cash and shares in Access Bank via a Scheme of Merger.
According to the statement, ”The Board of Diamond Bank Plc (“Diamond Bank”) today announces that following a strategic review leading to a competitive process, the Board has selected Access Bank Plc (“Access Bank”) as the preferred bidder with respect to a potential merger of the two banks (“the merger”) that will create Nigeria and Africa’s largest retail bank by customers.”


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