Nigeria, Feb. 10 -- Access Bank's proposed acquisition of a 100 per cent stake in Bidvest Bank has collapsed after both parties failed to fulfill the required regulatory conditions.

Access Holdings Plc, the parent company of Access Bank Plc, announced signing a binding agreement to acquire a 100 per cent equity stake in South Africa's Bidvest Bank Limited in December 2024.

On Tuesday, the failed acquisition of the Bidvest Bank was disclosed by Access Holdings in a statement signed by the company's secretary, Sunday Ekwochi.

Access Bank revealed that its proposed acquisition of Bidvest Bank commenced on 12 December 2024 and expired on 26 January.

The bank explained that the process required to fully complete the transaction expired due...