Access Bank Plc, one of Africa’s leading financial institutions, has taken a bold step towards expanding its influence on the continent. The bank has entered into a binding agreement to acquire a 100% stake in Bidvest Bank, a renowned South African financial institution. The transaction, facilitated through Access Holdings Plc, demonstrates the bank’s dedication to strengthening its position as Africa’s gateway to global markets.
Founded in 2000, Bidvest Bank has carved a niche in South Africa’s financial sector, offering a wide range of corporate, business, and retail banking services. As of June 2024, the bank reported total assets of approximately USD 665 million and an audited profit before tax of USD 20 million.
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This strategic acquisition is expected to be finalized in the second half of 2025, pending regulatory approvals. Once completed, Bidvest Bank will merge with Access Bank’s existing South African subsidiary to establish a more robust platform. This merger is set to anchor Access Bank’s regional growth strategy for the Southern African Development Community (SADC) region, positioning the institution as a key player in Africa’s financial ecosystem.
This move aligns with Access Bank’s broader vision of fostering economic integration and development across Africa while bridging local markets to the global economy. The acquisition also marks a significant milestone in the bank’s ongoing efforts to enhance its reach and impact within Africa’s dynamic banking landscape.
As Access Bank prepares for this transformational integration, stakeholders anticipate that the enlarged platform will unlock new opportunities for businesses and individuals in the region, further solidifying the bank’s reputation as a driver of innovation and growth in African banking.