More Banks to become HOLDCO's   

Dec 13 (Lagos) - There are reports of more Banks re-structuring into holding companies to take advantages of the structure which is following by top global financial institutions. 

Access Bank Plc ( ACCESS ) is going to seek shareholders approval to restructure into a holding company as early as this week and expects to get CBN approvals in February of 2022. There will be no additional shares issued and the holding company will become 100% owner of Access Bank. 

Sterling Bank Plc ( STERLNBANK ) has already received CBN approval in principle to restructure as a holding company subject to fulfilment of conditions as stipulated by the CBN. The Bank has also received a license to operate an Islamic Bank from CBN.

The HOLDCO structure will become the preferred corporate structure for Banks going forward and once again we find that GTB ( GTCO formerly GUARANTY ) is at the forefront of this change on going in the Banking sector. 

reporting for on Monday, Dec 13 2021 from Lagos, Nigeria 
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