First Bank Explains Merger With Heritage, Polaris Banks

The First Bank of Nigeria Plc, has explained potential merger with Heritage and Polaris Banks in a statement posted on the Nigerian Stock Exchange.

First Bank said on Friday that events in the banking industry necessitated merger and acquisition opportunities for banks, adding it has keyed into it.

The bank added that it was scanning for potential acquisition opportunities in Sub Saharan Africa.

According to the First Bank, “FBN Holdings Plc is mindful of its responsibilities as a Premium Board listed company and will make appropriate disclosures should it find such value.”