Nigeria’s Access Bank Completes Intercon Takeover

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Access Intercontinental

Access Intercontinental

LAGOS (Reuters) – Nigeria’s Access Bank (ACCESS.LG) said on Sunday it had completed the acquisition of its 75 percent majority interest in rescued lender Intercontinental Bank (INTERCO.LG).

Intercontinental was one of nine banks rescued in a $4 billion 2009 bailout. All rescued lenders have now agreed recapitalization deals, bringing to a close a reform program set-up two years ago to end the country’s banking crisis.

 

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