Diamond and Access banks debunks merge rumours

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Diamond and Access banks debunks merge rumours
Posted on: November 12, 2018, 08:00:21 PM
Debunking the claims spread across media on it's plan to merge brands with Access Bank, Diamond Bank Plc have through a statement notified the Nigerian Stock Exchange (NSE) and the general public that both banks are not in any merger or acquisition talks.






Access bank as well made known to the public this same stance. The banks, in separate statements, denied the rumours that they were engaged in merger and acquisition talks.

Mr Uzoma Uja, Diamond Bank’s Company Secretary, said it was not in discussion with any financial institution at the moment on any form of merger or acquisition.


He added that the attention of Diamond Bank had been drawn to the rumour in the media stating that the bank was purportedly in discussion with Access Bank to acquire the bank.


“We wish to state categorically that the bank is not in discussion with any financial institution at the moment on any form of merger or acquisition.


“We trust that the above clarifies the position of the bank with regards to the rumour on the various media platforms,” Uja said.



In it's own piece, Access bank debunked this rumour. Mr Sunday Ekwuochi, Company Secretary, Access Bank, said the bank had not entered into any such discussion with Diamond Bank or any other institution.

“As a publicly quoted company built on best practice, the bank is fully cognisant of its disclosure obligations in respect of any such corporate action and will always discharge its obligations in the most professional manner.

 “Consequently, any statement regarding any such corporate action that is not issued by the bank should be disregarded,” Ekwuochi said.


 

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