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Access Bank Zambia and Atlas Mara have announced that they would become fully operational as one bank by the end of March following a merger.
The bank is expected to operate under the name Access Bank.
The Bank officials have also announced several innovations which include the introduction of collateral free loans into the Zambian market.
Atlas Mara acting Managing Director, Bobbline Cheembela, and Access Bank Managing Director, Lishala Situmbeko, made the announcement at a media briefing in Lusaka on Wednesday.
Cheembela said whilst the banks aimed to operate as one by the end of March, there would be very few elements that would extend a little bit longer such as the banks mobile applications.
He said there would be a migration for customers and that in this regard the bank would make a smooth migration which would be beneficial to all.
“In the coming weeks, you will be hearing about product changes. It is important to note that this is not merely to say Atlas Mara products are being exited,” Cheembela stated.
Earlier, Situmbeko said the introduction of collateral free loans into the market was an expression of the bank’s belief in the potential of African countries like Zambia.
Read More:Access Bank completes acquisition of second bank, Atlas Mara
He stated that Access Bank wanted to make sure that it was part of building on Zambia’s economic recovery and growth which can only be achieved with the scale of combined bank and talented team.
“What we are doing here is building a bank of the future for Zambia. It’s not a goodbye Atlas Mara and Access Bank although will be named Access Bank,” Situmbeko said.
He added that this would bring a new dawn for the banking industry and that the bank would continue to support its customers.
Situmbeko further said that workers who would wish to leave the bank in the process of merging were free to do so but that management would rather pull everyone as one team.
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