Ecobank, Sterling Bank discontinue merger talks

The proposed merger between Ecobank Nigeria Plc and Sterling Bank Nigeria Limited may have been discontinued as the two institutions did not foreclose re-opening of talks in future, on business combination agenda. According to a release issued by both institutions, and made available to newsmen yesterday \”we have agreed not to proceed with the merger, having duly considered the current business climate and the ever-changing dynamics in the market.\” Both banks, however, admitted that given the inevitability of mergers and acquisition in Nigeria \’s business environment, especially amongst banks, they…

Read More