Access Bank Plc Fully Acquires Transnational Bank Plc Of Kenya

Access Bank Nigeria PLC on Monday announced that the bank has fully acquired a Kenyan bank, Transnational Bank Plc following the receipt of full regulatory approvals and fulfilment of all conditions precedent to its completion.

Brandnewsday reports that Access Bank made this known in a press release, stated that the bank has shown interest in the procurement of the West African bank in October 2019.

The statement reads: Sequel to our earlier announcement on October 28, 2019, the Board of Access Bank PLC is pleased to inform the investing public and the Nigerian Stock Exchange (NSE) of the Bank’s successful completion of the acquisition of Transnational Bank Plc.

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”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 entities 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.”

Access Bank Acquires Kenya’s Transnational Bank Plc

It further reads: Commenting on the acquisition, M. Herbert Wigwe the Bank’s Group Managing DiredtorfChief Executive Officer said, We are excited to make an entry into the vibrant Kenyan market Wie 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 expectation

We are indeed grateful to the regulators tor the confidence imposed in us throughout this transaction. We also acknowledge the support of our team of world-class advisors whose hard work made this deal possible.