S.Africa's Standard Bank plans no immediate Nigerian acquisition

ABUJA Thu May 8, 2014 3:06pm EDT

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ABUJA May 8 (Reuters) - Africa's biggest lender Standard Bank aims to expand its existing operations in Nigeria to take advantage of retail and business banking opportunities and has no immediate acquisition plans, its group chief executive told Reuters.

Sim Tshabalala also said on Thursday the bank had not bid for Enterprise Bank, one of three banks held by state-owned Asset Management Corporation of Nigeria (AMCON).

AMCON put Enterprise Bank up for sale last year and has attracted 18 bidders including foreign and local investors. (Reporting by Matthew Mpoke Bigg and Chijioke Ohuocha; editing by Jane Baird)

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