Following the acquisition of Intercontinental Bank Plc by Access Bank Plc, both banks have fully integrated the Automated Teller Machines network of the two banks.The integration, according to the Managing Director, Intercontinental Bank, Mr. Victor Etuokwu, connotes that customers of both banks can now withdraw from any of the banks ATM free of charge.A statement by the bank on Friday quoted Etuokwu as saying, "The full ATM network of both Access Bank and Intercontinental Bank has been fully integrated for the use of customers of both banks as part of the immediate benefits of the combination. From now, not only will you be able to use either banks ATM free of charge, but you will also be able to draw out more money."Etuokwu added that the branch network of both banks would be harmonised to minimise duplication with a view to delivering better customer service and promote growth throughout the business."The combination will give us a network of over 460 branches and lift us to being the number four bank in this market. Combining that scale with a strong financial position and excellent customer service, will allow us to target becoming a top three player. We intend to build on this new stable platform to create one of Africas leading financial services groups and Nigerias leading banking franchise." Etuokwu said that provisions of first-class and excellent value-added service would be the key components of the banks strategic focus in putting the customers first. According to Etuokwu, the integration process will put the customer at the core of everything the bank does. Intercontinental Bank recently concluded its recapitalisation programme, operating as a subsidiary of Access Bank Group with a new board, leadership and business agenda. However, lawmakers in the House of Representatives had launched an investigation into alleged fraud in the acquisition of Intercontinental Bank by Access Bank.The probe was sequel to a motion on the matter sponsored by Mr. Yakoob Alebiosu.Alebiosu had said, "Merger and acquisitions are critical components of a working reform policy but reforms must not only be seen to be devoid of underhand deals, they must conform to the international best practices and statutes and adhere to integrity test in order to prevent the avoidable mistakes of the past."The House mandated the committees on banking and currency and capital market and institutions to investigate the matter including the role played by the Assets Management Corporation and report back within two weeks.
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