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Access Bank Zambia

Access Bank Zambia, whose full name is Access Bank Zambia Limited, is a commercial bank in Zambia. It is licensed by the Bank of Zambia, the central bank and national banking regulator.[1]

Location

The headquarters and main branch of Access Bank Zambia are located at 632 Cairo Road, in the city Lusaka, the capital city of Zambia.[2] The geographical coordinates of the headquarters of Access Bank Zambia are: 15°24'43.0"S, 28°16'49.0"E (Latitude:-15.411944; Longitude:28.280278).[3]

Access Bank Group

By virtue of its shareholding, Access Bank Zambia is a member of the Access Bank Group, a financial services conglomerate, whose shares are listed on the Nigerian Stock Exchange and whose total asset valuation exceeded US$18.82 billion (NGN:7.28 trillion), as of June 2020.[4]

The group has banking subsidiaries in Democratic Republic of the Congo, Gambia, Ghana, Kenya, Nigeria, Rwanda, Sierra Leone and the United Kingdom. The group maintains representative offices in Lebanon, United Arab Emirates, India and China.[5][6]

Acquisition of Cavmont Bank

In August 2020 Access Bank Zambia entered into a binding commitment to acquire the entire issued ordinary share capital, assets and liabilities of Cavmont Bank, another Zambian commercial bank. The transaction, which requires regulatory and shareholder approval, is expected to close in Q4 of 2020.[7][8]

Merger with Atlas Mara Bank Zambia

In October 2021, Access Bank Zambia signed binding agreements to merge with Atlas Mara Bank Zambia Limited. The transaction which requires regulatory approval in Nigeria and Zambia, is expected to conclude in 2022. The merger of Access Bank Zambia and Cavmont Bank was concluded in 2000.[9]

It is anticipated that when the merger with Atlas Mara Bank Zambia is concluded, Access Bank Zambia's total assets will exceed US$1 billion, with over 300,000 customer accounts and 70 branches and baking agencies.[10]

See also

External links

References

  1. Bank of Zambia. List of Licensed Commercial Banks in Zambia Bank of Zambia, 1 September 2020, retrieved 1 September 2020^
  2. Access Bank Zambia. The Branch Network of Access Bank Zambia Limited Access Bank Zambia, 30 April 2018, retrieved 1 September 2020^
  3. {{google maps|title=Location of the Headquarters of Access Bank Zambia, Lusaka, Zambia |access-date=1 September 2020 | url=https://www.google.com/maps/place/15%C2%B024'43.0%22S+28%C2%B016'49.0%22E/@-15.4119444,28.2780945,435m/data=!3m2!1e3!4b1!4m5!3m4!1s0x0:0x0!8m2!3d-15.4119444!4d28.2802778}}^
  4. Goddy Egene. Access Bank: Delivering Shareholders' Value This Day, 13 May 2020, retrieved 1 September 2020^
  5. James Anyanzwa. Nigeria's biggest lender enters EA market to grow African footprint The EastAfrican, 3 November 2019, retrieved 1 September 2020^
  6. Faith Ikade. Access Bank Becomes Major Shareholder In Its Rwanda Subsidiary Ventures Africa, 3 June 2020, retrieved 1 September 2020^
  7. Nyasha Nyaungwa. Nigeria's Access Bank buys loss-making Zambian Cavmont Reuters.com, 6 August 2020, retrieved 1 September 2020^
  8. Lusaka Times. Access Bank acquires Cavmont Bank Ltd Lusaka Times, 7 August 2020, retrieved 1 September 2020^
  9. Dennis Erezi. Access Bank signs merger deal with AtlasMara Zambia 27 October 2021, retrieved 27 October 2021^
  10. Ronald Adamolekun. Access Bank to merge newly acquired Zambian unit with African Banking Corp Premium Times, 26 October 2021, retrieved 6 April 2022^