Access Bank has become a leading commercial bank in Nigeria with a strong presence in different African countries and beyond.
One of the key strategies employed by the bank to achieve its growth objective has been through acquisition of other commercial banks.
Over the years, the bank has grown through various mergers and acquisitions, expanding its reach and consolidating its position as a key player in the financial services industry.
Owned by Herbert Onyewumbu Wigwe from Rivers State, the bank has acquired some of the notable banks.
In 2012, Access Bank acquired Intercontinental Bank, one of Nigeria’s leading banks at the time. The acquisition helped Access Bank to shore its market share and become one of the largest banks in Nigeria.
Access Bank acquired Diamond Bank, another leading commercial bank in Nigeria in 2019. The acquisition was a major milestone for Access Bank, as it helped the bank to expand its customer base and consolidate its position as one of the top banks in the country.
In 2012, it acquired Capital Bank, a Ghanaian commercial bank. The acquisition helped Access Bank to expand its operations in Ghana and strengthen its position in the West African market.
Growing in leap, Access Bank acquired Transnational Bank in 2020, a Kenyan commercial bank. The acquisition marked Access Bank’s gallant entry into the Kenyan market and helped the bank to expand its operations in East Africa.
Still waxing, Access Bank acquired Grobank Limited, a South African commercial bank in 2021. The acquisition helped Access Bank to expand its operations in South Africa and gain access to the country’s growing agricultural sector.
Cavmont Bank Limited, a Zambian commercial bank was acquired in 2020 by Access Bank. The acquisition helped Access to expand its operations in Zambia and strengthen its position in the Southern African market.
In 2020, Access Bank acquired African Banking Corporation, a Tanzanian commercial bank. The acquisition helped Access Bank to expand its operations in Tanzania and gain access to the country’s growing financial services sector.
Kenya Women Microfinance Bank, a leading microfinance bank in Kenya was acquired in 2021. The acquisition helped Access Bank to expand its reach in the Kenyan market and provide financial services to women entrepreneurs.
Also, GroCapital Holdings, a Mauritius-based investment company was acquired in 2021. The acquisition helped Access Bank to expand its operations in Mauritania and gain access to the country’s growing investment sector.
