Access Bank to Delist from NGX as it Transforms to a Holding Company

In a bid to expand its offerings and deepen business reach, Access Bank Plc has perfected plans to transform into a holding company like FBN Holdings and Guaranty Trust Holding Co Plc (GTCO).

In line with the Scheme of Arrangement dated November 19, 2021, Access Bank’s 35,545,225,622 ordinary shares of 50 kobo each issued and paid-up capital of the bank held by shareholders will now be transferred to Access Bank Holdings Plc in exchange for equal ordinary shares of 50 kobo each in the bank as fully paid without any further act or deed.

The bank disclosed this in a statement titled “Resolutions Passed at Access Bank Plc’s Court-Ordered Meeting“.

At the meeting ordered by the court between the bank and registered shareholders held on 16 December 2021, the Board of Directors of Access Bank was authorised to take all necessary action to delist the shares of the Bank from the official list of Nigerian Exchange Limited.

The two parties also agreed that the Board of Directors amends the Memorandum and Articles of the Bank as set out in the Annexure of the latest notice.

About Access Bank

In the last 26 years, Access Bank Plc has evolved from an obscure Nigerian Bank into a world-class African financial institution. Today, Access Bank is one of the five largest banks in Nigeria in terms of assets, loans, deposits and branch network; a feat which has been achieved through a robust long-term approach to client solutions – providing committed and innovative advice.

Access Bank has built its strength and success in corporate banking and is now applying that expertise to the personal and business banking platforms it acquired from Nigeria’s International Commercial bank in 2012. The next two years were spent integrating the business, investing in infrastructure and strengthening the product offer.

As part of its continued growth strategy, Access Bank is focused on mainstreaming sustainable business practices into its operations. The Bank strives to deliver sustainable economic growth that is profitable, environmentally responsible, and socially relevant.

Access Bank Awards in 2021

• Best Mobile Banking App Nigeria 2021 – Finance Derivative Awards.
• Best CSR Bank Nigeria 2021 – Finance Derivative Awards.
• Best Banking CEO Of The Year Africa – International Banker Awards
• Best Commercial Bank Nigeria – International Banker Awards
• Sustainable Bank of the Year Africa – International Banker Awards