EXPANSION: Access Bank Plc acquires Transnational Bank (Kenya) Plc

Sill consolidating its takeover of Diamond Bank one of the Deposit Money Banks (DMBs) in Nigeria, Access Bank Plc on Monday announced that it had successfully completed the acquisition of Transnational Bank (Kenya) Plc. The bank said the development is as a result of its receipt of full regulatory approvals and fulfilment of all conditions.

Sunday Ekwochi, the Company Secretary of the bank informed the investing public and the Nigerian Stock Exchange (NSE) in a statement posted on the website of the exchange. According to him, 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.

Ekwochi said that the acquisition would give the bank’s customers an opportunity to tap into its extensive global network, which he said, would translate into immense business opportunities, efficient digital solutions, competitive products and an unrivaled customer experience.

Quoting Herbert Wigwe, the bank’s Group Managing Director and Chief Executive Officer, he said 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. 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 said. Access Bank is a leading full-service commercial bank operating through a network of more than 600 branches spanning three continents, 12 countries and 36 million customers.

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