Access Bank Officially Acquires Standard Chartered Bank In The Gambia

In a landmark development within West Africa’s banking sector, Nigerian financial giant, Access Bank, has officially taken over Standard Chartered Bank’s operations in The Gambia, marking the end of the latter’s 130-year presence in the country.

This was confirmed by the Governor of the Central Bank of The Gambia, Mr. Buah Saidy, during a press briefing held at the Bank’s headquarters in Banjul on Thursday, June 12.

According to the governor, Standard Chartered’s exit was conducted in a “prudent and transparent manner,” with full regulatory oversight and coordination from the Central Bank. “The process was done very well. The buyer is Access Bank Limited, and as of Friday, 13th June, Standard Chartered Bank will cease to operate in The Gambia,” he announced, stating that Standard Chartered will formally return its banking license.

Access Bank’s acquisition of Standard Chartered’s operations aligns with the Nigerian lender’s broader pan-African expansion strategy and further consolidates its footprint across Key West African markets.

Governor Saidy also addressed concerns regarding employment continuity and operational stability, revealing that both banks have worked closely to ensure a seamless transition for staff. “We have made sure that the employees of Standard Chartered are absorbed into Access Bank. The transition has been very smooth,” he assured.

He further described the development as a positive step for The Gambia’s financial sector. “It is going to be another big bank with strong financial muscles to help finance economic activity in The Gambia,” he said, stating that the Central Bank has been actively engaged with senior management and boards from both institutions throughout the process.

Governor Saidy extended his appreciation to the staff, management, shareholders, and customers of Standard Chartered Bank for their contributions over the decades. He expressed confidence that Access Bank will uphold the same level of trust and stability going forward.

With this acquisition, Access Bank solidifies its standing as one of Africa’s fastest-growing financial institutions, demonstrating sustained momentum in its strategic push to dominate cross-border banking services across the continent.