Access Bank, a subsidiary of Access Holdings, has announced a binding agreement with South African-based Bidvest Group Limited to acquire 100 percent equity stake in Bidvest Bank Limited. Founded in 2000, Bidvest Bank offers a range of financial services and reported total assets of $665 million and profit before tax of $20 million as of June 2024.
This acquisition reflects Access Bank’s commitment to expanding its presence in South Africa and leveraging recent acquisitions to enhance efficiency. The deal is set to close in the second half of 2025, pending regulatory approvals. Bidvest Bank will be merged with Access Bank’s existing South African subsidiary to strengthen the bank’s position in the SADC region.
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Iheanyi Nwachukwu, a seasoned content writer with 18 years of experience in banking and finance journalism, is Assistant Editor at BusinessDay. Nwachukwu holds a BSc in Economics and an MSc in Management. He has received training in advanced writing, news agency journalism, and capital markets development and regulations.
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