Access Bank acquires National Bank of Kenya from KCB Group for further East African expansion.
Nigeria's Access Bank has signed a deal to acquire Kenya's National Bank of Kenya from KCB Group, further expanding its presence in East Africa. This is Access Bank's second acquisition in Kenya, following its purchase of Transnational Bank Ltd. in 2019. The deal aims to increase Access Bank's scale in Kenya's mature lending market and aligns with the company's goal to double the share of assets outside its home market by 2027. The transaction is subject to regulatory approvals, including clearance from the Kenyan and Nigerian central banks.
March 20, 2024
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