Access Bank and Diamond Bank announced on 17 December their intention to merge, for a total consideration of N72.5 billion ($200 million) – confirming a rumour that had been circulating for months but which Diamond had rejected just weeks before.
On November 12, as word of a possible merger was spreading, Diamond Bank reacted in a statement: “We wish to state categorically that the bank is not in discussions with any financial institution at the moment on any form of merger or acquisition.
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