First Bank acquires 100 percent of Switzerland’s ICB’s West African assets

Nigeria’s First Bank said on Monday it had completed a deal to acquire a 100 percent of the West African operations of Switzerland’s International Commercial Bank Financial Group Holdings to grow its international footprint.

First Bank said in a statement the deal will grow its balance sheet by 1.32 percent. It did not disclose the price paid.

It said ICB’s West African operations had 28 branches, of which 17 are in Ghana, 5 in Guinea, 4 in Gambia and 2 in Sierra Leone.

Source: Reuters