Diamond Bank Confirms Merger Talks with Access Bank

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The Board of Diamond Bank Plc Monday announced that following a strategic review leading to a competitive process, it had selected Access Bank Plc as the preferred bidder with respect to a potential merger of the two banks.

The board said the merger will create Nigeria and Africa’s largest retail bank by customers.

“The Board of Diamond Bank believes that the merger is in the best interest of all stakeholders including, employees, customers, depositors and shareholders and has agreed to recommend the offer to Diamond Bank’s shareholders. Completion of the merger is subject to,” the board said.

Details shortly…