{"id":37748,"date":"2020-01-20T12:15:23","date_gmt":"2020-01-20T11:15:23","guid":{"rendered":"https:\/\/nationalwire.com.ng\/?p=37748"},"modified":"2020-01-20T12:15:23","modified_gmt":"2020-01-20T11:15:23","slug":"access-bank-plc-secures-regulatory-approval-to-acquire-transnational-bank-kenya","status":"publish","type":"post","link":"https:\/\/nationalwire.com.ng\/sub\/access-bank-plc-secures-regulatory-approval-to-acquire-transnational-bank-kenya\/","title":{"rendered":"Access Bank Plc Secures Regulatory Approval To Acquire Transnational Bank, Kenya"},"content":{"rendered":"

Nigeria\u2019s largest lender, Access Bank has announced that it has secured full regulatory approval for its proposed acquisition of majority equity stake in the Kenya-based Transnational Bank Ltd (TNB).<\/p>\n

It will be recalled that the Nigeria-based lender had in October 2019 announced that it had secured a \u2018no objection\u2019 of the Central Bank of Nigeria to its proposed acquisition of TNB.\u00a0 The acquisition is in line with the Bank\u2019s strategic objective of becoming Africa\u2019s Gateway to the World.\u00a0 The entry into the Kenyan market ties into the Bank\u2019s strategy to establish footprints in key African markets and will complement its existing franchise in Rwanda, Congo DRC and Zambia in the Eastern and Southern African frontiers.<\/p>\n

TNB is a medium-sized commercial Bank with great focus on the agricultural sector and a significant retail footprint.<\/p>\n

Speaking on the acquisition, the Group Managing Director, Access Bank Plc, Herbert Wigwe said: \u201cThis acquisition aligns with our strategy to become Africa\u2019s Gateway to the World and we are excited about the potential that resides in the East African market.\u00a0 We will leverage our presence in key payment corridors; strong partnerships in non-presence countries; robust technology platform as well as world-class risk management to provide cutting edge financial solutions to our clients.<\/p>

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Advertisement<\/div>\r\n\t\t\t\t\t\t\t<\/a>\r\n \r\n\t\t\t\t\t\t\t<\/div>\n

We will build on TNB\u2019s existing expertise in agricultural financing and deploy our resources to optimise other business segments.\u00a0 We are committed to supporting the growth and development of our host community in line with our sustainability ethos and certain that this acquisition will deliver great value to our stakeholders.<\/p>\n

Following the receipt of regulatory approval, we are very confident that the transaction will be completed shortly.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

Nigeria\u2019s largest lender, Access Bank has announced that it has secured full regulatory approval for its proposed acquisition of majority equity stake in the Kenya-based Transnational Bank Ltd (TNB).<\/p>\n","protected":false},"author":6,"featured_media":34531,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[23],"tags":[793,6713],"coauthors":[2391],"class_list":["post-37748","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-business","tag-access-bank","tag-transnational-bank"],"yoast_head":"\nAccess Bank Plc Secures Regulatory Approval To Acquire Transnational Bank, Kenya - National Wire<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/nationalwire.com.ng\/sub\/access-bank-plc-secures-regulatory-approval-to-acquire-transnational-bank-kenya\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Access Bank Plc Secures Regulatory Approval To Acquire Transnational Bank, Kenya - 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