In a historic development marking the end of a banking era, Standard Chartered Bank officially ceased operations in The Gambia on Friday, June 13, 2025, after 130 years of continuous service.
The multinational bank’s operations and assets have been fully acquired by Access Bank Limited, a Nigerian financial giant that has been expanding across Africa in recent years.
The announcement was made by Buah Saidy, Governor of the Central Bank of The Gambia, during a press briefing at the Central Bank’s headquarters in Banjul on Thursday, June 12.
Governor Saidy described the exit as “prudent and transparent,” emphasizing that the transition had been carefully managed to safeguard financial stability and protect the interests of employees and customers.
“The process was done very well, in a very prudent and transparent manner. The buyer is Access Bank Limited.
They bought Standard Chartered Bank, and as of Friday, Standard Chartered Bank will cease to operate in The Gambia,” Governor Saidy stated. “We will ask them to return their licence.”
Standard Chartered Bank, one of the oldest financial institutions in the country, has been a cornerstone of The Gambia’s economic development since colonial times.
Over the decades, the bank played a critical role in commercial banking, trade finance, and corporate investment in the country, earning the trust of generations of Gambians and businesses alike.
The acquisition by Access Bank is part of a broader strategy by the Nigerian lender to increase its footprint across Africa.
With the acquisition now finalized, Access Bank is expected to emerge as one of the most prominent financial institutions in the Gambian banking sector, bringing in broader financial services, increased capital, and regional banking expertise.
Governor Saidy assured the public that the Central Bank had been closely involved in the transition process to ensure a seamless shift and to safeguard jobs.
“We have been working with both Standard Chartered and Access to make sure that the staff of Standard Chartered segue comfortably into Access Bank,” he noted. “It’s going to be another big bank with strong financial muscles to help finance economic activity in The Gambia.”
He further commended the smooth nature of the transfer, expressing gratitude to all parties involved.
“We thank the staff, management, shareholders, and customers of Standard Chartered Bank for their loyalty and service. They are in good hands with Access Bank.”
The takeover also aligns with Access Bank’s ongoing acquisition spree across several African markets.
The bank has previously acquired operations in South Africa, Kenya, and Mozambique, as part of a pan-African expansion agenda fueled by a combination of mergers, acquisitions, and strategic investments.
While Standard Chartered’s departure is seen as the end of an era, financial observers say Access Bank’s entry could usher in a new chapter of innovation, digital banking expansion, and stronger capital support for Gambian enterprises.
