The Sky is not falling! Access bank, Intercontinental Bank M&A

If you have ever bought a 20 year old ‘Tokunbo’ car without having to fix a thing, you can exit this post already and leave to people like us who have and are currently still fixing minor faults here and there with our newly acquired “Tokunbo”. Not saying tokunbos’ are bad buys, just saying “fairly used” don’t come in perfect shape, we find and fix issues so much to deliver expected service. sometimes we assume a perfectionist mindset hoping to transform the same car to a brand new car (if wishes were horses)

That is how simply I can explain what M&A issues are, why they are a necessary part of every M&A and why we customers need to exercise some patience to have them thoroughly fixed.

So in the context of my discussion, Access bought over Intercontinental bank (not sure about what brand of car to illustrate the might of this transaction) but while it is perceived that inter could be the range rover and access the Toyota corolla, I see things a little differently. Access to me is a 2012 Bugatti Veyron, Intercontinental ‘was’ a 2000 dodge viper (that refused an upgrade), insane difference in engine capacity and elegance. So access bought a tokunbo 2000 dodge viper with the task to upgrade to a veyron-ish like dodge (Pimp my ride kinda stunt).

Definitely, both banks run widely different operating models, even their banking application/software is different. To truly come together as one Bank, the platforms and modus operandi must also come together and YES there will be issues.

While I’m not arguing that the once upon a time magical service delivery of access seems to be massively affected, (as expected) as a result of the merger, I’m also saying they deserve a chance to complete the business integration, then we can sit to rate their performance. But if Access can pull this off, not compromising their high level service delivery standards, then this M&A would be perhaps the most memorable.

While it’s obvious they have issues with the system integration process, let us stop spreading un-founded rumors about Access Bank failing. A failing bank never buys another; It struggles to keep afloat.

I am a proud customer of both banks and my expectation is to have the emerged entity deliver quality service maybe better than it used to be with access.

It’s only a corn that hit your head, the sky is not falling…don’t be deceived by Foxel Loxey into a den of no return. access bank is not fading. Its only growing its might and I still think the bank will cause a great upset very soon in terms of the best financial institution in Nigeria.

NB. Access should try sha o! I spent an extra hour trying to cash money last week o! but it’s a cross I’ll bear with you for now…I can’t wait for it to end. + thanks for the light refreshment in your banking halls, it made the wait a little bearable.