Access bank through Access Holdings plc has taken over the assets of standard chartered bank Gambia as part of its expansion efforts.
This was revealed by the governor of Central Bank of The Gambia, Buah Saidy, during a press briefing at the Central Bank’s head offices in Banjul.
“The process was done very well, in a very prudent manner and in a transparent manner. The buyer is Access Bank Limited, they bought Standard Chartered Bank. And as of tomorrow, Friday, 13th June, Standard Chartered Bank will cease to operate and we will ask them to return the licence of Standard Bank,” he said..
“It’s going to be another big bank with strong financial muscles to help finance economic activity in The Gambia, so it’s a development. The transition has been very smooth and the regulatory authorities have been working with both banks, their senior management, their board,” he asserted.
Governor Saidy further said the central bank has been working with both Standard and Access to ensure the staff of Standard Chartered Bank are morphed comfortably into Access Bank.
He thanked the staff, management, shareholders and customers of Standard Chartered Bank, and reassured them that they will be in good hands with Access Bank.
The acquisition marks the exit of standard chartered bank from Gambia after 130 years.
