Deal expands Nigerian lender’s Central Africa reach as Standard Chartered continues retreat from select markets under global restructuring plan.
Access Bank has completed the acquisition of Standard Chartered Bank Cameroon, strengthening the Nigerian lender’s expanding footprint across Africa and deepening its push to become one of the continent’s most interconnected banking networks.
The transaction, confirmed by Standard Chartered on Friday December 5, 2025, marks another milestone in the British bank’s ongoing withdrawal from several African and Middle Eastern markets. For Access Bank, the deal reinforces its growing presence in Central Africa and enhances its ability to serve multinational corporations, regional enterprises, and cross-border clients.
Access Holdings Plc, the Nigerian-based financial group that owns Access Bank, has emerged as a key buyer of assets shed by Standard Chartered in recent years. The Cameroon acquisition follows earlier takeovers in Angola, Botswana, Zambia, Gambia, Sierra Leone, and Tanzania, underscoring a deliberate strategy to scale through acquisitions rather than organic growth alone.
Standard Chartered’s exit from Cameroon aligns with a broader restructuring plan announced in 2022, aimed at simplifying operations and reallocating capital to higher-growth markets. The plan included full exits from countries such as Angola, Cameroon, Zimbabwe, and Lebanon, as well as reduced footprints in parts of East and West Africa.
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With the takeover completed, Access Bank now assumes control of Standard Chartered’s Cameroonian franchise, a move expected to significantly expand its corporate and institutional banking business in the country. The acquisition also strengthens Access Bank’s cross-border payments and trade finance capabilities, a core pillar of its pan-African strategy.
Before the transaction, Access Bank Cameroon served more than 22,000 customers through five branches located in Douala and Yaoundé. The addition of Standard Chartered’s operations is expected to broaden its customer base and diversify its product offerings across retail, enterprise, and corporate banking segments.
Financial indicators point to strong momentum in the Cameroonian unit. In 2024, customer deposits rose 85 percent to CFA146 billion, or about $259 million, while customer loans reached CFA17 billion, roughly $30 million, reflecting growing confidence in the franchise.
Access Holdings now serves more than 60 million customers across 20 countries spanning Africa, Europe, and Asia. Since the return of co-founder Aigboje Aig-Imoukhuede to a leadership role in 2024, the group has emphasized capital strengthening, digital banking expansion, and stable revenue generation.
In the first half of 2025, Access Holdings reported gross earnings of N2.49 trillion, or about $1.7 billion, with total assets rising to N42.45 trillion, equivalent to nearly $28.8 billion. The group attributed the performance to broad-based growth, supported in part by its aggressive expansion across African markets.
The Cameroon acquisition further cements Access Bank’s role as a consolidator in Africa’s banking sector at a time of strategic retrenchment by global lenders.