Lagos — Group Managing Director of the First City Monument bank (FCMB), Ladi Balogun said weekend that the acquisition of Finbank would be completed in October this year.

Balogun in a letter to the customers of the bank, said "as you know, FCMB is the 100 per cent owner of Finbank. Since the acquisition, we have proceeded with various activities in preparation for the merger of the two banks into a single entity that is focused on providing an outstanding banking experience for all our customers. The purpose of this letter is to acknowledge and thank you as a customer and I would also like to give you a sense of good things to expect," he said

He said the main benefit customers would derive from the acquisition and merger is greater convenience and a continuously improving level of customer service "Customers of both banks now have access to one call centre and you can now also transact on any of the 310 ATMs within the enlarge network at no cost. On full integration all customers will have access to our enlarged branch network of 273 branches across the country ensuring convenient access to our full range of service", Balogun said.

He said very shortly, customers of the bank would have access to a simpler variant of mobile banking product through a modification of Finbank's Flashme cash.

"SMEs can also access our new suite of simple and rapid delivery products or what we call fast track business loans which we are tailoring to meet your credit needs within 72 hours. Needs such as discounting receivables and invoices, funding execution of purchase contract, paying for import duties/ port charges, restocking inventory, providing bonds and guarantees are adequately catered for," he said.