Access Bank Completes Acquisition of StanChart Gambia Unit
TLDR
- Access Holdings has completed the acquisition of Standard Chartered Bank Gambia, following final approval from the Central Bank of Gambia
- The transaction is part of Standard Chartered’s broader exit strategy from select African markets.
- Since July 2023, the British bank has been divesting its regional subsidiaries, several of which have been acquired by Access Holdings
Access Holdings has completed the acquisition of Standard Chartered Bank Gambia, following final approval from the Central Bank of Gambia on June 13. The transaction ends Standard Chartered’s 130-year presence in the country, dating back to 1895.
The deal includes the transfer of all assets and the withdrawal of Standard Chartered’s banking license. Local financial regulators oversaw the transition in coordination with the leadership of both banks to ensure continuity and compliance.
Access Holdings, which already operates in Gambia through a local subsidiary established in 2007, will now assume full operational control. A merger between the two entities is under consideration but has not yet been finalized.
The transaction is part of Standard Chartered’s broader exit strategy from select African markets. Since July 2023, the British bank has been divesting its regional subsidiaries, several of which have been acquired by Access Holdings.
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Key Takeaways
The acquisition of Standard Chartered Bank Gambia reinforces Access Holdings’ strategy to expand across Africa through targeted acquisitions. Following its recent purchase of the National Bank of Kenya, the Nigerian financial group is establishing a wider footprint in both West and East Africa. This strategy reflects a broader trend of African financial consolidation, where regional champions are filling the void left by global banks exiting smaller markets. For Access, the Gambia acquisition strengthens its market share and deepens its regional integration strategy. As financial services become more digitally integrated across borders, Access Holdings is positioning itself to serve pan-African clients with cross-border banking, trade finance, and retail solutions. Its growing presence in multiple regulatory jurisdictions also signals intent to compete at scale with multinational peers, while leveraging its Nigerian base to anchor expansion. With legacy players like Standard Chartered retrenching, local and regional banks like Access are seizing the opportunity to redefine African banking for the next generation.
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