Access Bank Plc has completed the acquisition of Transnational Bank Plc, of Kenya (TNB). The bank made this known in a statement signed by its Company Secretary, Sunday Ekwochi, a copy of which was posted on the website of the Nigerian Stock Exchange (NSE) on Monday July 20, 2020.
“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 fulfilment of all conditions precedent to completion,” the statement said.
Commenting on the acquisition, the Group Managing Director, Access Bank Plc, Herbert Wigwe, 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.”