Banking Featured Finance

First Bank to Acquire Heritage, Polaris Banks

First Bank of Nigeria is set to acquire Heritage Bank and Polaris Bank, Daily Inde­pendent reports.

Both Polaris and Heritage banks have reportedly been shopping for a bank to merge with based on the advice of the Cen­tral Bank of Nigeria (CBN), after a round of stress test in banks last year.

The three banks are currently working on the modalities of the proposed merger, the report says

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