Access bank plc’s acquisition of the National Bank of Kenya by Access bank plc has been approved by the Kenyan Central Bank following months of awaiting regulatory approval.
The approval came at a board meeting of the National Bank of Kenya. It was resolved that Access bank plc’s plans to take over 100 percent shares of the bank be allowed to go ahead as per the share purchase agreement reached in March.
A public announcement confirming the acquisition by Access bank is expected to be made by the Kenyan Central Bank group in due course.
This latest acquisition is a part of Access bank plc’s expansion efforts which has seen the bank purchase several assets across the African continent.
