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CBN permits Access Bank to acquire Transnational Bank of Kenya

Aderemi Ojekunle
Transnational-Bank in Kenya (victormatara)
Transnational-Bank in Kenya (victormatara)
  • CBN grants No Objection to Access Bank Plc for the acquisition of Kenya's Kenya's Transnational Bank. 
  • The Board of Directors at Access Bank Plc confirms the proposed acquisition on Monday.
  • Transnational Bank is a medium-sized commercial bank with a focus on Kenya's Agric sector.

Access Bank Plc has received a 'No Objection' from the Central Bank of Nigeria (CBN) to acquire Kenya's Transnational Bank. 

The Board of Directors at Access Bank Plc confirmed the proposed acquisition on Monday, October 28th, 2019. 

An Access Bank Plc branch in Lagos (Pulse)
An Access Bank Plc branch in Lagos (Pulse) Pulse Nigeria

"The transaction requires the approvals of the Kenyan regulatory authorities and COMESA Competition Commission which are being awaited," Sunday Ekwochi, Access Bank's secretary in a statement. 

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TNB is a medium-sized commercial bank with a focus on Kenya's Agric sector.

Access Bank Plc says it will provide further information in due course.

Aderemi Ojekunle Aderemi Ojekunle
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