Access Bank Plc, Monday announced the completion of the acquisition of Transnational Bank (Kenya) Limited, a Kenyan-based financial institution.
Recall that Access Bank had acquired Transnational Bank (Kenya) Limited after the Nigerian tier 1 lender announced in January that it had secured regulatory approval to acquire the Kenya lender.
But in a release on Monday, Access Bank said it has completed the acquisition of Transnational Bank (Kenya) Plc after it received the full regulatory approval and fulfilled all conditions precedent to completion of the process.
“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 to 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 said in the statement.
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.
“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.
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.
