The Nation Newspaper Access Bank acquires Kenya’s major bank
, the flagship subsidiary of Access Holdings Plc, has entered into a binding agreement with Kenyan-based KCB Group Plc for the acquisition of the entire issued share capital of National Bank of Kenya Limited from KCB.
Sequel to the completion of the transaction, NBK would be combined with Access Bank Kenya Plc to create an enlarged franchise in the pursuit of Access Bank’s strategic objective for the Kenyan and East African markets. The latest transaction comes on the heels of recent other acquisitions talks. Access Bank had sealed a deal to acquire the majority equity stake of about 80 per cent in Uganda’s Finance Trust Bank .
With the completion of acquisition, Atlas Mara Zambia, otherwise known as African Banking Corporation Zambia Limited, became a wholly owned subsidiary of Access Bank Zambia .Access Holdings had indicated that the integration of Atlas Mara Zambia into the operations of Access Zambia is underway. The integration of the two banks will make Access Zambia one of the top five banks in the country.
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