Access Bank Plc: Divestment of Interest from Subsidiaries
Category: Investors NewsBeat
February 4, 2011
The Bank has notified The Exchange that it intends to completely divest from its non-banking subsidiaries namely, United Securities Limited and Access Investments and Securities Limited and integrate the operations of its Mortgage Banking subsidiary, Access Homes and Mortgages Limited into its Retail Banking Division. The Bank’s decision followed the approval it received from the Central Bank of Nigeria (CBN), to bring its operations in conformity with the provisions of CBN’s Regulations on the Scope of Banking Activities and Ancillary Matters No. 3. 2010.