Nigeria's Access Bank acquires Kenya's Transnational Bank
Nigeria’s Access Bank successfully completed the acquisition of Transnational Bank of Kenya with 99.98% shareholding, following regulatory approval granted by the Central Bank of Kenya.
The Bank’s vision is to be the World’s Most Respected African Bank and its entry into the Kenyan market, a key gateway in East Africa, not only brings it closer to that vision but enables the customers tap into its 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.''
Access Bank 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.