The shareholders of Citizens International Bank Plc, Guardian Express Bank Plc and ACB International Bank Plc have approved the merger of their banks with BankOne Group. The merged entity would be known as Spring Bank Plc. The BankOne Group includes Omegabank, Fountain Trust Bank and Trans International Bank Plc. Under the merger scheme, all the assets, liabilities and undertakings, including real property and intellectual property rights of Guardian Express and ACB are be transferred to Citizens and that the entire share capital of Guardian Express and ACB would be cancelled. Newspaper Vanguard reported Guardian Express and ACB would be subsequently being dissolved without being wound up.
