Leading financial institution, Access Bank Plc has announced its intention to expand its businesses into the Republic of Cameroon.

The bank made this known in a disclosure notice sent to the Nigerian Stock Exchange (NSE).

The notice, signed by Sunday Ekwochi, the Company Secretary, said that the move followed the approval obtained from the Central Bank of Nigeria (CBN).

The bank said it obtained a “No Objection” approval from the apex bank to set up a subsidiary in Cameroon.

The Cameroon subsidiary will take off once regulatory approvals are obtained in the country, the bank said in the disclosure Wednesday, adding that the expansion is in conformity with the bank’s strategic objective to become “Africa’s Gateway to the World.”

The planned expansion move to Douala signals part of the promise of last year’s merger.

Upon completion of all necessary regulatory filings in Cameroon, Access Bank Plc will become the 16th commercial bank to operate in the country alongside United Bank of Africa (UBA).

Local media reports in Cameroon suggest that the new subsidiary’s headquarters will be in Douala, Cameroon’s economic capital.