Carry out foreign exchange transactions. Go For It! The Nigerian bank said that the acquisition is in line with its goal of becoming Africa’s gateway to the world besides establishing its presence in major African markets. At I&M Bank, we are on your side and we care about you and your personal data. The deal will be effective from 1 February and has been in the works since late 2019. KENYA – Access Bank Plc, one of Africa’s leading financial institutions has expanded its footprint across the African continent with the official launch of its Kenya subsidiary.. Accomplish your goals easily and go further with NCBA Bank. The deal, which comes exactly seven months after Access Bank successfully consummated a … Transnational Bank is a commercial lender that offers personal and business banking services in Kenya. Pay your utility bills, purchase airtime and load MPESA. Send and receive email to and from Absa. Access bank says that the launch is strategic for its expansion in the East African region. The acquisition of Kenya’s Transnational Bank Limited by Access Bank follows a series of mergers in the East African nation’s banking industry. Enjoy the videos and music you love, upload original content, and share it all with friends, family, and the world on YouTube. Latest news and information from the World Bank and its development work in Kenya. Last year, the bank reported an annual pre-tax loss of KES98.5m ($951,690). Access Bank Plc. According to bank officials, this step marks a step towards conquering the East African market and the African continent in general. Access Bank Plc on Monday announced the completion of the acquisition of Transnational Bank (Kenya) Plc. The Central Bank of Kenya (CBK) disclosed that it has approved the acquisition of 100% of Transnational by Access Bank; effective February 2020.. Requirements for Using Access Bank Code {901} Bank Account: You must have a Naira denominated account with access bank. Nigeria’s Access bank has today launched its operations in Kenya after acquiring a 99.9% stake in privately owned Transnational Bank of Kenya. Access Bank Kenya Plc, a subsidiary of the Nigerian group Access Bank, officially launched its activities in Kenya on Monday, November 9. Access Bank Plc is a leading full-service commercial Bank operating through a network of more than 600 branches and service outlets, spanning 3 continents, 12 countries and 36 million customers. The Central Bank of Kenya (CBK) announced on Friday 17 January the acquisition of “up to 100% of the shareholding of Transnational Bank Plc by Access Bank”. Group Managing Director and Chief Executive Officer of Access Bank Herbert Wigwe said the bank’s entry into the Kenya market is a key gateway into East Africa and the African continent at large. Access Bank Approves to Acquire Kenya’s Transnational Bank Access Bank Plc, one of Nigeria’s largest bank, on Friday received approval from the Competition Authority of Kenya to acquire Transnational Bank Ltd. Access Bank will acquire 93.57 percent of Transnational Bank Ltd as the Central Bank of Kenya moves to consolidate the nation’s banking industry pace. Access Bank also received all the final approvals from relevant regulatory bodies in Kenya pertaining to the transaction. Link your accounts (both credit card and additional bank accounts). In a statement released to local media and monitored by 1 st News; the CBK affirmed that the move comes as a result of approval by the bank regulator and treasury; in line with the Banking Act. This site uses cookies to optimize functionality and give you the best possible experience. KCB Receives GCF Accreditation to Fund Green Projects Nov 12 2020; KCB Group Plc Reports KShs.10.9B in Q3 Net Earnings Nov 11 2020; KCB Ranked 667 Globally, Top Bank in East Africa and Safest Bank in Kenya Oct 26 2020 History. We have to strengthen the resilience of Kenya’s banking sector and reposition the country’s economy for growth,” said Access Bank Kenya Managing Director David Aluko. The Nigerian lender paid KSh1.4 Billion for the acquisition. There are currently 28 Access Bank branches in Kenya—absorbed from the acquisition—and plans are in motion for new branches in Kiambu, Nyeri, Machakos, Kisumu, Nyandaura, Kakamega, Bungoma and Kisis. Open an account today. Our Focus Is You. Access Bank:: Speed, Service, Security. Earlier this year, Access Bank and Diamond Bank merged to form a leading Tier 1 Nigerian bank; spanning three continents, 12 countries and 29 million customers. Central Bank of Kenya grants Access Bank approval to acquire Transnational Bank of Kenya. It is licensed and regulated by the Central Bank of Kenya, the national banking regulator. Johnson Okafor. It is a welcome development that all stakeholders are happy with, “Access Bank Kenya Country Managing Director, David Aluko said. Access Bank Plc Monday declared it had concluded the takeover process of Kenya’s Transnational Bank Limited, nearly eight months after the deal was brokered. However, Access Bank and Transnational did not confirm the deal. ACCESSbank has locations throughout Omaha, Nebraska. Access Kenya’s economy facts, statistics, project information, development research from experts and latest news. NAIROBI, Kenya, Nov 10-Access Bank has expanded its reach across the African continent with the official launch of its Kenya subsidiary. The Bank employs 28,000 thousand people in its operations in Nigeria, Sub Saharan Africa and the United Kingdom, with representative offices in China, Lebanon, India […] Query foreign exchange and interest rates. Bloomberg Ticker Currency Price Target Price Upside/downside, % Rating; Common: ACCESS NL Equity: NGN: 8.80: 8.20-6.82: HOLD About Us; The notice which was disclosed in a corporate disclosure on the Nigerian Stock Exchange read, “The Bank’s vision is to be the World’s Most […] At Access Bank, we will help you accumulate that extra income and grow your funds through our different savings options. Access Bank Kenya (ABK), whose complete name is Access Bank Kenya Plc, formerly Transnational Bank Kenya Limited, is a commercial bank in Kenya. Its non-performing loans also soared by 58% KES1.85bn in the same period. Access exclusive investment opportunities. Access Bank has finally acquired 100% of Kenya’s Transnational Bank Plc and its 28 branches, as the Central Bank of Kenya (CBK) gave its final nod.. Nairametrics had reported in October 2019 that Access Bank from the first quarter of 2020, would expand its footprint across Africa. Transnational Bank is one of Kenya's tier-4 bank and posted a $693,904 loss in 2018. Access bank ussd codes has made banking easier, faster and safer for its customers. The higher Interest earned on these accounts will increase your chances of reaching your financial goals whatever your reasons are for saving. Explore our website or visit us to learn more about our checking & savings, mortgages and much more. {{'AUTHENTICATION.LOGOUT_BTN'| translate}} {{ 'LANDING.TEXT_SIZE' | translate }} A A Access Bank The World Bank has been working closely with the Government of Kenya for many years and is committed to helping Kenya extend access to modern, affordable, reliable and clean energy. Obinna Chima Access Bank is set to acquire the Transnational Bank Limited of Kenya. completes its acquisition of Transnational Bank Plc., following its earlier announcement on October 28th 2019 as well as its receipt of full regulatory approvals and fulfilment of all conditions precedent to completion. 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