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Fidelity Bank Plc has officially completed the acquisition of Union Bank Plc UK, acquiring a 100% stake in the company.
The acquisition is part of Fidelity Bank’s strategic initiatives for international expansion.
The Board of Fidelity Bank believes that this acquisition will bring significant value to the Fidelity Bank Group and is working towards seamlessly integrating the operations of both entities.
The Bank of England’s Prudential Regulatory Authority (PRA) has approved the change of control of Union Bank UK, and the Central Bank of Nigeria has issued a letter of “No Objection” to the transaction.
