First Bank to acquire 100% of Switzerland’s International Commercial Bank

First Bank is in talks to acquire 100 percent of the West African banking assets of Switzerland’s International Commercial Bank Financial Group Holdings, which has operations in four West African countries

First Bank said in a filing through the stock exchange it has received approvals for the transaction from Nigeria’s central bank and regulators across west Africa. It hoped to conclude the deal soon for the bank’s assets in Ghana, Sierra Leone, Gambia and Guinea.

First Bank gave no details on how much it was paying to acquire the stake.

 

[Reuters]