Access Bank Plc issued a statement, yesterday, informing the Nigerian Stock Exchange and the investing public that a court has finally sanctioned the merger with Diamond Bank. The court sanction automatically kicks-starts the merger.
As we have previously reported, the two lenders are joining forces together to form Sub-Saharan Africa’s biggest bank. This move was earlier approved by the companies’ shareholders and the appropriate regulatory authorities.
Now that the merger process is completed, the hitherto different banks will now begin the process of presenting a united front.
In the meantime, a number of everyday businesses could benefit from this merger. Nairametrics will now look at some of these businesses and how they could be in for a windfall, considering the situation.
More than ever before, operators in this field will now be needed by the “new Access Bank” to help design very useful and appropriate marketing/communication campaigns that will members of the public to familiarise themselves with the new identity of the bank. In the same vein, branding agencies may also be needed for this same purpose.
This is important, in a bid to forestall any confusion that may result from the merger, especially as it relates to corporate identity. Therefore, advertisers and branding agencies should get ready for work.
Still on the need to properly communicate the new corporate identity of the bank (post merger), media houses are expected to play a huge role. We are looking at everything from new media to all the traditional means of mass communication — electronic, print, etc. It is through the media that the communication messages, designed by advertisers, will be transmitted through.
It is not exactly clear what the new identity of the “new Access Bank” will be, in terms of colours and logo. But no matter the new identity the bank decides to eventually present to the public, the services of painters will be required to repaint all the landed properties belonging to the bank.
Similarly, workers in the bank will need new complimentary cards that will reflect the new identity. All the souvenirs peculiar to the bank will have to be reprinted in order to reflect the new identity. All of these present opportunities for small businesses to make money.
On a final note, the Access-Diamond merger is probably the biggest merger Nigeria has ever witnessed. Expectations are high, even as many opportunities abound to be explored. Therefore, everyone is watching keenly to see what happens next.