Heritage Bank Denies Romour Of Merger With First, Polaris Banks

Heritage Bank Plc has denied speculations that it is discussing a possible merger or acquisition with First Bank Plc and Heritage Bank Plc.

THE WHISTLER had reported on Friday March 13, 2020, that First Bank Plc had responded to the publication titled, ‘First Bank Said to Merge with Heritage Bank, Polaris Bank’, by stating that “events in the industry have thrown up merger and acquisition opportunities for banks.”

However, the bank did not admit or make outright denial of the speculations.

Heritage Bank Plc. on Wednesday disclosed in a statement that there had been no discussions as such with First Bank and Polaris Bank or any stakeholder in the industry.

According to the Bank, “the Management of Heritage Bank Plc will want to Categorically advise the general and banking public to discontinue the rumour of the merger/ acquisition of Heritage Bank by First Bank as same is devoid of truth.”

The bank added that it was taking appropriate measures within its reach to address the “false report” with relevant authorities.

Meanwhile the bank promised to give update on the development.

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