Sky Bank plc at the weekend formally acquired Mainstreet Bank. The handover process saw the Asset Management Corporation of Nigeria, AMCON, divesting its interest in the bank before transferring its full ownership to the acquirer.
At the event, AMCON lauded Skye Bank for becoming the preferred bidder out of over 29 others. The AMCON described the bid as “highly competitive and transparent process”. It also praised Sky Bank plc for showing “tenacity and doggedness in pursuing the acquisition with all sense of seriousness and professionalism”. The organisation also appreciated the executive of the Mainstreet Bank from returning the bank to profitability.