Access Bank Plc, through its wholly owned subsidiary Access Bank UK Limited, has successfully acquired a 76% majority stake in AfrAsia Bank Limited, a Mauritius-based commercial bank known for facilitating banking services between Africa, Asia, and other global markets.
The deal, which has received full regulatory approval from the Bank of Mauritius and the Financial Services Commission, is part of Access Bank’s international growth strategy and aims to enhance customer service and global financial connectivity.
In an official statement, AfrAsia Bank’s Board confirmed:
“The Access Bank UK Limited has completed the acquisition of a 76% majority stake in the bank’s share capital.
“The Access Bank UK Limited is built on a strong foundation of financial risk management, corporate governance, and a healthy balance sheet. It will continue to benefit from a dedicated team with a proven track record in banking and investment.”
AfrAsia Bank
AfrAsia Bank, headquartered in the Mauritius International Financial Centre, also operates a representative office in South Africa, serving high-growth client markets. IBL Ltd, the bank’s founding shareholder, will retain a minority stake of 7.89%, signaling continued investor confidence.
With this acquisition, AfrAsia’s platform will now complement Access Bank UK’s international presence in London, Dubai, Paris, Hong Kong, Malta, and Lagos. This move strengthens Access Bank’s operational scale and reputation for sound financial governance.
Access Bank Expansion
In June, the bank acquired Standard Chartered’s Consumer, Private, and Business Banking operations in Tanzania, expanding its footprint in East Africa and supporting its goal of delivering inclusive, technology-driven financial services across the continent.
Together, the Tanzanian and AfrAsia deals signal Access Bank’s broader ambition: to become a pan-African banking powerhouse with global relevance, capable of serving the evolving needs of a digitally connected, investment-savvy clientele.
