Douala, Cameroon – Standard Chartered PLC has successfully completed the handover of its banking operations in Cameroon to Access Bank Cameroon, concluding a strategic divestment aimed at streamlining the multinational lender’s global footprint.
The transfer, effective December 5, 2025, marks the completion of a process initiated in 2022 as part of Standard Chartered’s broader strategy to focus on core markets.
The move aligns with Standard Chartered’s stated goals of “achieving operational efficiencies, reducing complexity, and driving scale,” according to a statement released by the banks.
Standard Chartered had strategically decided in April 2022 to exit several markets across the Africa and Middle East regions. The final migration of assets and liabilities to Access Bank represents a “new chapter” for the acquiring Nigerian banking giant, which continues its ambitious expansion across the continent.
Anna Asonganyi, Chief Executive for Standard Chartered Cameroon, emphasized the focus on a smooth transition for stakeholders.
“This transition represents a pivotal moment for Standard Chartered as we refocus our efforts on our core strengths,” she commented.
“Our priority throughout this process has been to ensure a seamless transition for our employees and clients, who are at the heart of everything we do. We are confident that under Access Bank, our clients and staff will continue to receive the high level of service and support they have been accustomed to.”
The divestment is part of a multi-market rationalization effort, as explained by Kariuki Ngari, Managing Director & CEO Kenya, who has oversight of several regional markets.
“In 2022, Standard Chartered announced the strategic decision to sell our business in seven markets in Africa and Middle East, which allows us to deliver efficiencies, reduce complexity, drive scale and serve our clients where we can make the most impact,” Mr. Ngari stated.
He further acknowledged the close collaboration that facilitated the acquisition’s completion: “Today, Standard Chartered Cameroon officially transfers to Access Bank, and we have worked very closely together to complete this acquisition.
As we transition the business to Access Bank, I would like to thank the regulators in Cameroon for their support and all employees for their contributions and wish them the best in their future careers with Access Bank.”
While Standard Chartered is pulling back its onshore presence in Cameroon, it is expected to continue serving large corporate and institutional clients in the region through its international network.
The acquisition significantly bolsters Access Bank’s presence in the Central African market, furthering its status as one of Africa’s leading financial institutions.
This article was edited with AI and reviewed by human editors
