Access Bank takes over Standard Chartered Gambia after 130 years

Standard Chartered’s 130-year history in The Gambia officially ended on June 13, 2025. Nigeria’s Access Bank has now taken full control of the global bank’s operations in the country. The deal was confirmed by Buah Saidy, Governor of The Central Bank of The Gambia, during a press briefing in Banjul.

“The process was done very well, in a very prudent manner and in a transparent manner. The buyer is Access Bank Limited, they bought Standard Chartered Bank. And as of tomorrow, Friday, 13th June, Standard Chartered Bank will cease to operate and we will ask them to return the licence of Standard Bank,” Saidy said.

The deal closes a chapter for Standard Chartered, which has operated in The Gambia since 1895. With the transfer, Access Bank officially becomes one of the biggest financial players in the Gambian market.

The Central Bank worked with both banks to ensure a smooth transition. Staff from Standard Chartered have been absorbed into Access Bank’s operations, preserving jobs and minimizing disruption.

“It’s going to be another big bank with strong financial muscles to help finance economic activity in The Gambia, so it’s a development. The transition has been very smooth and the regulatory authorities have been working with both banks, their senior management, their board,” Governor Saidy added.

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Customers and shareholders of Standard Chartered were also assured that their accounts and services remain secure under the new ownership.

This deal is part of Standard Chartered’s wider retreat from several African markets. In 2023, Standard Chartered started selling its wealth and retail units across Africa and the Middle East to refocus its business on wealth management and high-net-worth clients.

Last year, Access Bank also acquired Standard Chartered’s subsidiaries in Angola, Cameroon, Sierra Leone, and Tanzania. The bank is reportedly in talks to acquire more of Standard Chartered’s assets in Botswana, Uganda, and Zambia.

According to Standard Chartered’s 2024 financial reports, its wealth management business now contributes over 30% of its revenue. Group Chief Executive Bill Winters said: “We continually assess the efficacy of our global business model and regularly take action to concentrate resources where we have the most distinctive client proposition.”

Access Bank’s latest deal solidifies its position as one of Africa’s largest banks by assets. Since 2021, it has expanded aggressively, moving into several African markets where Western banks have pulled back.

The deal adds to Access Bank’s growing regional presence as it pushes to become Africa’s leading pan-African financial institution. In recent years, its strategy has centered on picking up the pieces from Western banks scaling back their African operations.