Loita Bank, Malawi a subsidiary of Loita Cpaital partners International has been acquired by EcoBank Group.
EcoBank Group through its head quarter in Nigeria acquired a major stake in the Bank recently. Consequent to the acquisition Loita Bank, Malawi has been rechristened EcoBank Malawi.
With this acquisition EcoBank group has spread its tentacles to Southern and Central Africa.
According to Mand Sidiba, Chairman, Board of Directors, EcoBank group ‘with our entry into Malawi Ecobank is determined to develop EcoBank Malawi into a leading and profitable Bank that will play a fronline role in the economic development of Malawi.
Also, Albert Essien, Ecobank Regional Director in charge of Eastern Africa added that EcoBank will seek to provide products and services to customers in Malawi.
Affirming Loita’s confidence in Ecobanl, Chiarman Board of Loita Bank Chinyanta Justin said ‘we are pleased that our discussion with EcoBank in the recent months on how to better serve the community have led to this important investment.
Thursday, 13 March 2008
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1 comment:
didnt know this takeover, have heard of eco bank though. thanks
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