Access Bank, the flagship subsidiary of Access Holdings Plc, has entered into a transaction with the Ugandan-based Finance Trust Bank Limited and it’s shareholders for the acquisition of a majority equity stake in FTB.
The Company Secretary, Sunday Ekwochi, says the proposed acquisition is subject to regulatory approval.
The Holdco says that the transaction would see Access Bank acquire a majority stake from existing shareholders and inject capital to increase FTB’s capital base; “Both which are subject to regulatory approvals by the Central Bank of Nigeria and Bank of Uganda.