No change in ownership – adb debunks uniBank takeover claims

No change in ownership – adb debunks uniBank takeover claims

 

Adb BankAgricultural Development Bank logo

Officials of Agricultural Development Bank (adb) have denied the bank has been taken over by another indigenous bank, uniBank, describing the report as pure lies.

Although there is an acknowledgement of moves to transfer a majority of the shares to uniBank, adb says such an action would have to be sanctioned by the Central Bank.

At the moment that has not been done despite receiving letters from the consortium of banks such as Belstar Capital Limited, EDC Limited and Starmount Investment Limited to that effect, adb said in a statement.

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