GamalNasser:
Hmmm just yesterday I was saying to a friend that I suspect they will close a diamond bank in my estate and I was right , looks they are closing diamond bank branches in areas where they already had Access branches , Methinks Herbert Wigwe is just using COVID crunch as an excuse to ditch Diamond bank staff he inherited in the acquisition

You are absolutely correct. I just noticed that the ones mentioned in my state are all former Diamond branches.

GamalNasser:
Hmmm just yesterday I was saying to a friend that I suspect they will close a diamond bank in my estate and I was right , looks they are closing diamond bank branches in areas where they already had Access branches , Methinks Herbert Wigwe is just using COVID crunch as an excuse to ditch Diamond bank staff he inherited in the acquisition

you are wise

chigoizie7:
From the comments I am reading here. I have come to a conclusion that most people do not know how businesses are run.

Diamond bank was a very big competitor in the financial markets same as AccessBank. Both banks has branches all over Nigeria. Before the merger, the common thing is, where there are bank branches, you see so many other banks there. In a location, you will see, AccessBank, gtbank, fbn, uba, Diamond etc in almost all the competitive environments. Now that there is a merger between AccessBank and diamond bank. Do you expect them to run both branches at the same time? When they are next to each other? That will be insane. The moment they merged, I knew that this was bound to happen. I just do not know when.

Some of the closures are understandable.

For example. There is an AccessBank next to diamond band inside unizik awka.

Also. There is AccessBank next to diamond bank in Regina awka.

There is also an AccessBank next to diamond bank in main market. Same in building materials ogidi.

I do not think that both branches will operating at the same time in the same location when it actually is one entity. That is a pure waste of running cost.



It is very understandable that half of the AccessBank branches be closed after the merger with diamond bank. No need for the waste.

And since those branches are closed, the staff will also be retrenched.

Even in Asaba, there is a former Diamond bank less than 20 metres from Access bank, all at Nnebuisi road

Honestly , this can't be as a result of covid 19 ,it actually shows access bank has been in financial mess all this long but not revealed to the masses. The y are just pretending as if the covid 19 is the main reason for that.

iswallker:


Correct to some extent - branch listed as oke ilewo abeokuta is a diamond access branch - however there is a diamond access branch in car wash abeokuta not listed..

Very True. Those Near OPIC, Okeilewo & FCE, Osiele, Abeokuta Arent Affected Too.

This man went to do Onye oma CY with his money now see the wahala he is having....

Access is a rubbish bank anyway.

Which branch con day work na

The truth is that physical banking hall is now outdated. Almost 80% of work done there can be done online. When Wema bank introduced their full digital banking platform called Alert, it became a game changer. Banks are going digital! However, I think this could be a fake news......where is the source of this news? Access bank or bloggers?
All the branches listed are about 80% of all access bank branches. They can’t close that at once. I am seeing some areas with 2 branches and both closed. All the branches in Ajah closed? All the branches on awolowo way closed? Broad street? Alaba? Trade fair? We really need to confirm this news...

The two branches were I opened my accounts are both affected,yawa don ghast

see this bank o, I collect loan from them o... no collateral loan

Useless bank. If you believe the highest paycut nonsense this lienus wigwe is claiming, then you are the most gullible.

Let's wait and see maybe all this breach they claimed to closed down, maybe their ATM machine won't be working..

Nukilia:
Nigerias economy is spiralling down so quickly

It has began

This is unfair, but then it the after effect if the pandemic........

I left my job 8yrs back after nursing the fear of unknown for yrs. The first month after dumping the job I realised I won't be getting alert (salary) then I was encgolved by fear. But then, it was time for me to think outside the box. And today I rather pay out wages.

So to all those workers affected, it time to face yur fear, think outside the box and move on with life.....no time to waste time

Contact us today so we could help yu turn that idle land you aboundon into an Economy land......

Oga CEO, hope sey customer money no close down

sircatherine45:


Even in Asaba, there is a former Diamond bank less than 20 metres from Access bank, all at Nnebuisi road

You see, so how will you justify the same bank operating in such proximity? Is that not waste of running costs?

[quote author=operationmoses post=89118550][/quote] everything will fall in place .

seunmsg:
Nigerian banks are too fragile. They can hardly survive any downturn in the economy without massively laying off staff.

Some of these banks also bite more than they can chew. What Access bank is going through now reminds me of my little stint with BankPHB.

BankPHB acquired spring bank late 2008 in a very hostile manner. Billions of depositors funds was committed into the acquition. By March 2009, the bank was already distressed and laying off staff. The hostile nature of the takeover also made it impossible for the quick integration of the operations of the banks. There was also the effect of the global meltdown and crash of the stock exchange market that year.

By the Sanusi came in as CBN Governor around June, the bank was already a mess. He did not bother to romance the problem, he simply killed the bank and other banks that were then struggling to survive the global meltdown and crash of the stock exchange market by late 2009.

Hopefully, Access bank won’t go the way of BankPHB.

Nothing wrong with using depositors fund for an aquisition if you have a air tight strategy. Banks in Nigeria have refused to serve the populace. They only serve the government and oil companies. Therein lies their problem.

GamalNasser:
Hmmm just yesterday I was saying to a friend that I suspect they will close a diamond bank in my estate and I was right , looks they are closing diamond bank branches in areas where they already had Access branches , Methinks Herbert Wigwe is just using COVID crunch as an excuse to ditch Diamond bank staff he inherited in the acquisition

You're talking bullshit, come to Akoka bariga, the reverse is the case. Stop misleading the public.

I knew them since 2006. They have never been banks. l am not surprised at their outcomes.
So which of their branch remains open!

This bank is always a set back to corp members in camp and after camp,in fact a disgrace to commercial banks at large.

Ayekotoo:
This is the result, when a small bank acquired a bigger and one of the most capitalized banks in Africa due to Devilish Sanusi 's policy. Intercontinental bank comes to the picture.

you made me remember sanusi role in then intercontinental bank. you sabi wella

This is serious o, is better for the workers to be redundant now than to sack all of them, he should be patient, things will return back to normal later.

chigoizie7:
From the comments I am reading here. I have come to a conclusion that most people do not know how businesses are run.

Diamond bank was a very big competitor in the financial markets same as AccessBank. Both banks has branches all over Nigeria. Before the merger, the common thing is, where there are bank branches, you see so many other banks there. In a location, you will see, AccessBank, gtbank, fbn, uba, Diamond etc in almost all the competitive environments. Now that there is a merger between AccessBank and diamond bank. Do you expect them to run both branches at the same time? When they are next to each other? That will be insane. The moment they merged, I knew that this was bound to happen. I just do not know when.

Some of the closures are understandable.

For example. There is an AccessBank next to diamond band inside unizik awka.

Also. There is AccessBank next to diamond bank in Regina awka.

There is also an AccessBank next to diamond bank in main market. Same in building materials ogidi.

I do not think that both branches will operating at the same time in the same location when it actually is one entity. That is a pure waste of running cost.



It is very understandable that half of the AccessBank branches be closed after the merger with diamond bank. No need for the waste.

And since those branches are closed, the staff will also be retrenched.

Why didn't they shut the irrelevant branches and retrench some of the diamond staff when they acquired them. Why wait until covid19.

mondayaudu:
The truth is that physical banking hall is now outdated. Almost 80% of work done there can be done online. When Wema bank introduced their full digital banking platform called Alert, it became a game changer. Banks are going digital! However, I think this could be a fake news......where is the source of this news? Access bank or bloggers?
All the branches listed are about 80% of all access bank branches. They can’t close that at once. I am seeing some areas with 2 branches and both closed. All the branches in Ajah closed? All the branches on awolowo way closed? Broad street? Alaba? Trade fair? We really need to confirm this news...

Nigerian banks don't even have enough 'physical branches'. There's demand for it, the truth is, Nigerian banks being inefficient, can't cut down their operational costs. With less cost they will do just fine.

chigoizie7:
Some of the closures are understandable.

For example. There is an AccessBank next to diamond band inside unizik awka.

Also. There is AccessBank next to diamond bank in Regina awka.

There is also an AccessBank next to diamond bank in main market. Same in building materials ogidi.

I do not think that both branches will operating at the same time in the same location when it actually is one entity. That is a pure waste of running cost.



It is very understandable that half of the AccessBank branches be closed after the merger with diamond bank. No need for the waste.

And since those branches are closed, the staff will also be retrenched.

If you ask me Access bank is not in any way distressed, it's just cutting cost and re-strategizing. They have apprehended this tempo currently being felt by their pool customers, and you can trust that their main customers have enough briefs about this development.

In business, bank executives do not recognize the word EMOTIONS, infact it does not exist in their vocab.

When the dust settles you are going to hear of banking products that would draw in a different set of clients for their continuous growth.

With the closure of those branches they believe they would have recouped a huge savings that can cater for any turbulence going forward. This is the common thinking of business executives especially those of banks.

If any call for donations comes up again, they will readily carry out what they term as their corporate social responsibility. There is always a budget for such. That bank is not in anyway broke.
.

Sofistcatdmoron:
Let me go qnd transfer all my money from access bank to GTB

How am I sure of the stability of other bank to transfer to.

Make fed gvt return their donation ASAP, E done red!�

When acess bought diamond I knew that was the beginning of their failure .

chigoizie7:



You see, so how will you justify the same bank operating in such proximity? Is that not waste of running costs?

I understand your concept now...thanks for that

Investnow2017:


If you ask me Access bank is not in any way distressed, it's just cutting cost and re-strategizing. They have apprehended this tempo currently being felt by their pool customers, and you can trust that their main customers have enough briefs about this development.

In business, bank executives do not recognize the word EMOTIONS, infact it does not exist in their vocab.

When the dust settles you are going to hear of banking products that would draw in a different set of clients for their continuous growth.

With the closure of those branches they believe they would have recouped a huge savings that can cater for any turbulence going forward. This is the common thinking of business executives especially those of banks.

If any call for donations comes up again, they will readily carry out what they term as their social corporate responsibility. There is always a budget for such. Thank bank is not in anyway broke.
.

Paint a fantasy picture as much as you can. Failed PR job! This poo will splatter all over their fat faces when this lockdown is over.