Access Bank Expands Footprint acquires Kenya’s Transnational Bank

Following a public statement made late last year, October 2019 by Access Bank Plc, and signed by the company secretary, Sunday Ekwochi. It announced the successful completion of the acquisition of Transnational Bank Plc, of Kenya, TNB.

According to the statement, it reads; “Access Bank Plc is pleased to inform the investing public and the Nigerian Stock Exchange of the bank’s successful completion of the acquisition of Transnational Bank (Kenya) Plc. This follows the receipt of full regulatory approvals and fulfillment of all conditions precedent to completion.”

The Group Managing Director, Access Bank Plc, Herbert Wigwe while speaking on the acquisition, 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.

Wigwe in his further statement, he added; “Already having a solid retail presence across Africa, Access Bank’s acquisition of TNB will allow it build on its expertise in agricultural financing and deploy its resources to optimize other business segments.”