COMPLETION OF ACQUSITION OF TRANSNATIONAL BANK (KENYA) PLC BY ACCESS BANK PLC
The Board of Access Bank PLC (‘the Bank’) is pleased to announce the completion of the acquisition of 99.98% shareholding of Transnational Bank PLC following the regulatory approval granted by the Central Bank of Kenya on the 17th of January 2020.The Bank’s vision is to be the World’s Most Respected African Bank and our entry into the Kenyan 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. Commenting on the acquisition, Mr. Herbert Wigwe the 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. We will walk in their shoes,understand their lifestyles, and help them fulfil their dreams. 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’.
ABOUT ACCESS BANK PLC.
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 thousand people in its operations in Nigeria, Sub Saharan Africa and the United Kingdom, with representative offices in China, Lebanon, India and the UAE. Listed on the Nigerian Stock Exchange since 1998, Access Bank is a diversified financial institution which combines a strong retail customer franchise and digital platform with deep corporate banking expertise and proven risk management and capital management capabilities. The Bank services its various markets through five business segments:Personal, Business, Operations and IT, Commercial and Corporate & Investment Banking Divisions. The Bank has over 800,000 shareholders, including several Nigerian and International Institutional Investors, and has enjoyed what is arguably Africa’s most successful banking growth trajectory in the last 18 years. Following its merger with Diamond Bank in March 2019, Access Bank became one of Africa’s largest retail banks.As part of its continued growth strategy, Access Bank is focused on mainstreaming sustainable business practices into its operations. The Bank strives to deliver sustainable economic growth that is profitable, environmentally responsible and socially relevant, helping customers to access more and achieve their dreams.