Sale of Bidvest Bank to Access Bank attracts Moody’s rating review
Bidvest is exiting the financial services sector after failing to scale the bank
13 January 2025 - 05:00
Ratings agency Moody’s has placed the ratings of Bidvest Bank on review for downgrade, flagging the lower capacity of its suitor, Nigerian lender Access Bank to fund the bank, in comparison with that of its owner, the Bidvest Group.
Bidvest, valued at R88bn on the JSE, in December announced Access Bank as the preferred buyer of its banking unit, Bidvest Bank, in a deal worth R2.8bn subject to the usual regulatory approvals...
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