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Access Holdings to acquire National Bank of Kenya Limited 

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Access Holdings has announced plans to acquire the National Bank of Kenya in its first major deal since the death of Herbert Wigwe.

This is sequel to an earlier report from ThePressNG on the  announced sale of National Bank of Kenya by KCB.  

According to a corporate disclosure on the NGX website seen by ThePressNG, it was noted that Access Bank Plc, the leading subsidiary of Access Holdings would acquire the entire issued share capital of National Bank of Kenya Limited from KCB.  

Access Bank stated that it entered into a binding agreement with Kenyan-based KCB Group Plc (“KCB”) for the acquisition of the entire issued share capital of National Bank of Kenya Limited (“NBK” or ‘the Target’’) from KCB. KCB is also the holding company of KCB Bank Ltd, Kenya’s largest commercial bank.

The bank said this is in line with Access Bank’s strategic expansion initiative and is poised to solidify its presence in the Kenyan market.

Speaking on the transaction, Bolaji Agbede, the Acting Group CEO of Access Holdings Plc noted, 

This will be Access Corporation’s first acquisition since the demise of its former GMD/CEO Herbert Wigwe, suggesting the bank will continues with its inorganic aggressive growth model. 

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