Access Bank Set to Expand Presence in Kenya Through Acquisition Deal
Access Bank has revealed plans to acquire the National Bank of Kenya from the KCB Group. This marks its second acquisition of a Kenyan bank in under five years after a move to acquire Sidian Bank fell through in 2023.
Paul Russo, CEO of KCB Group, expressed optimism about the deal, stating that Access Bank will purchase the entire stake, which he views as beneficial for NBK’s future.
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“We are commencing the necessary steps to ensure the success of the transaction. While it may take 6 to 9 months to finalize, we are providing a clear path forward for the institution and our employees,” Russo announced.
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