By Amaka Ifeakandu
Lagos
Management of Heritage Bank has restated its readiness to fulfill all conditions necessary to ensure full takeover of Enterprise Bank. The bank recently sign the Share Purchase Agreement with the Asset Management Corporation of Nigeria (AMCON) in fulfillment of one of the requirements for the acquisition of Enterprise Bank,
Speaking in Lagos at press briefing, the managing director /chief executive officer, Heritage Bank, Ifie Sekibo confirmed that the bank had already paid the initial 20 percent of the total bid price while efforts were already in place to ensure the payment of the final 80 percent within the stipulated time frame given by AMCON. “In the spirit of our continuous quest for quintessential banking service delivery aimed at boosting the economy through innovative partnership and professional alignment with like-mind brands, we formally announce the commencement of the process that we believe will finally culminate in the acquisition of Enterprise Bank Limited to further drive our time-proven credo of creating, preserving and transferring wealth among our teeming customers’.
Speaking further he said “in line with AMCON’s requirements for the acquisition of Enterprise Bank Limited, HBCL Investment Services Limited (HISL) which is the special purpose vehicle sponsored by Heritage Bank Limited to bid for Enterprise Bank on Friday last week signed the Share Purchase Agreement (SPA). I am also aware that HISL has paid the initial 20 percent as specified in the terms of the Agreement. Efforts are ongoing to ensure that the balance 80 percent is also paid in line with the terms, conditions and time frame specified by AMCON. This major step towards the acquisition of Enterprise Bank by HISL and by extension, Heritage Bank, fills us with great excitement. With this take over process going on smoothly, we are sure a more energized Bank with improved capacity to create, preserve and transfer wealth will soon emerge”, he stated.
Sekibo specifically pledged the commitment of Heritage Bank to ensuring that current staffs of Enterprise Bank are fully integrated into the processes and aspiration of the bank in order to deliver more values to all stakeholders in the deal. The Enterprise Bank acquisition has positioned Heritage Bank which entered the market slightly over a year ago with a regional bank status following the acquisition of the banking licence and liabilities of the defunct Societe Generale Bank of Nigeria (SGBN), well on its way to becoming a strong national bank. The acquisition of Enterprise Bank which currently boasts of 176 branches will increase Heritage Bank’s point of presence from the current 19 Experience Centres to nearly 200 branches spread all over the country.
In the same vein, the Heritage Bank CEO assured the customers of the acquired bank to expect utmost professional banking experience that is founded on uncompromising commitment to excellent customer service and technology driven product development.
