Nigerian bank, Access Bank is set to acquire South African bank, Bidvest Bank for $158 million.
They acquired the National Bank of Kenya for $99.6 million and 83.4% of Kenyan bank, Sidian Bank for $36.8 million in 2022.
They also acquired Standard Chartered Bank Angola and Sierra Leone, Cavmont Bank (Zambia), Grobank (South Africa), Transnational Bank (Kenya), Diamond Bank, Intercontinental Bank, Marina Bank and Capital (Nigeria).
It is Africa’s largest bank by customer base with 60 million users. The bank has operations in 23 countries including the UAE and the UK. It had assets worth $28.8 billion as at March 2022.
They also acquired a majority stake (80%) in Uganda’s Finance Trust Bank earlier this year.
Access Bank Plc has been on an acquisition spree in 2024.
