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Proposed Acquisition of Majority Equity Stake in Angolan-Based Finbanco S.A by Access Bank PLC

5 Oct 2022
Proposed Acquisition of Majority Equity Stake in Angolan-Based Finbanco S.A by Access Bank PLC

Access Bank Pic (‘the Bank’), a wholly owned subsidiary of Access Holdings Pic (‘Access Corporation’) is pleased to announce that it has entered into a binding agreement with Montepio Holdings SGPS S.A (‘Montepio’) to acquire a 51% majority shareholding in Finibanco Angola S.A. (‘the Transaction’). Finibanco Angola S.A. (‘Finibanco’) is a profitable, well-capitalised full-service commercial bank with over 20 branches and around US$300 million in total assets that has operated in Angola since 2008. The Transaction will be effected via the purchase of existing shares owned by Montepio-the holding company for Banco Montepio, one of Portugal’s well-established commercial banks.

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