Access Bank completes acquisition of Transnational Bank PLC in Kenya

Access Bank, one of the foremost banks in Nigeria on Monday announced that it has finally acquired Transnational Bank Plc in kenya. Sequel to the initial announcement in October 2019, Access Bank Plc has finally acquired the Kenyan bank. 

Press release on Jan 17, 2020 : Acquisition of Transnational Bank plc. by Access Bank plc. source:central bank of kenya

Access Bank Statement on Nigerian Stock Exchange website

The bank, in a statement posted on the website of the Nigerian Stock Exchange (NSE) to the investing public stated that the acquisition followed the receipt of full regulatory approvals and fulfillment of all conditions precedent to completion.

Company Secretary, Sunday Ekwochi, said the bank’s entry into the Kenyan market, a key gateway in East Africa, was bringing it a step closer to its vision of becoming the World’s Most Respected African Bank.

Mr Ekwochi said the acquisition would give the bank’s customers an opportunity to tap into its extensive global network.

This, he said, would translate into immense business opportunities, efficient digital solutions, competitive products and an unrivalled customer experience.

He quoted Mr. Herbert Wigwe, the bank’s Group Managing Director and Chief Executive Officer, as pledging that the bank would always put customers first in all its dealings.

“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.

Meanwhile access bank is in advanced discussions with Zambian Bank, Cavmont Capital Holdings plc regarding merger.

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