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Friday, June 9, 2023

Access Bank Concludes Acquisition of Transnational Bank Kenya

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Access Bank in a statement said today that it had successfully completed the acquisition of Transnational Bank Kenya.

The tier-one Nigerian lender said this followed the receipt of full regulatory approvals and fulfillment of all conditions precedent to completion of the deal.

“The Bank’s vision is to be the World’s Most Respected African Bank and our entry into the Kentan market, a key gateway in East Africa, not only brings us closer to that vision but enables our customers tap into our extensive global network that translates into immense business opportunities, robust and efficient digital solutions, competitive products and unrivalled customer experience,” the bank said.

Commenting on the acquisition, Herbert Wigwe, Access Bank’s Group Managing Director/Chief Executive Officer said:

“We are excited to make an entry into the vibrant Kenyan market. We pledge to put our customers at the forefront of everything we do. Through the creation of a world class payment system, we will build and support our wholesale and retail customers using our strong customer insights to deliver beyond their expectations. We are indeed grateful to the regulators for the confidence reposed in us throughout this transaction and we acknowledge the support of our team of world class advisors whose hard work made this deal possible.”

Access Bank Plc is a leading full-service commercial Bank operating through a network of more than 600 branches and service outlets, spanning three continents, 12 countries and 36 million customers.

The Bank employs 28,000 people in its operations in Nigeria, Sub-Sahara Africa and the United Kingdom, with representative offices in China, Lebanon, India and the UAE.

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