How mergers impact confidence in banks and their customers vanguardngr.com vanguardnews
Between the 80s and 90s, there were about 3,600 mergers in the US. In 1996, the Bank for International Settlements reported a similar trend in Japan and across Europe, especially during the 1990s.This trend is driven by the various benefits of mergers and acquisition , which have been proven to outweigh the risk or disadvantages.
The proposed merger of Access Bank and Diamond Bank is also aimed at delivering these values to millions of customers across the world and the Nigerian banking industry. Managing Director/Chief Executive, Access Bank Plc, Mr Herbert Wigwe highlighted the benefits of the proposed merger saying: “Customers are at the heart of our decision to create one of Nigeria’s leading banks. The combination of Access Bank and Diamond Bank will result in real benefits.
“Diamond Bank will benefit from Access Bank’s strong culture of risk and capital management expertise and a clear strategy for sustainable growth. Access Bank will take advantage of Diamond Bank’s unparalleled retail banking expertise and strong digital offering. Together, the two companies would create one of Nigeria’s leading banks, with 29 million customers, including more than 13 million mobile customers, as well as 3,100 ATMs and around 32,000PoS terminals.
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