Nigeria's Access Bank to acquire Transnational Bank in February

The Central Bank of Kenya (CBK) has announced the acquisition of 100 percent of Transnational Bank Plc shareholding by Access Bank Plc effective February 1, 2020.

CBK approved the transaction on December 24, 2019 under Section 13 (4) of the Banking Act. The National Treasury Cabinet Secretary, National Treasury also approved acquisition under Section 9 of the Banking Act.