{{Short description|Commercial bank in Kenya}} {{EngvarB|date=April 2014}} {{Use dmy dates|date=April 2014}} {{Infobox company | name = Access Bank (Kenya) PLC | logo = | type = Subsidiary of Access Bank Group | company_slogan = | foundation = 1984 | location = Nairobi, Kenya | key_people = '''Barbara Barungi'''<br/>Chairperson<br/> '''Lillian Odhiambo'''<br/>Ag. Managing Director | num_employees = | assets = US$113.6 million (KES:9.66 billion) (2013) | revenue = {{profit}} Aftertax: US$683,549 (KES:68.03 million) (2015) | industry = Financial services | products = Loans, Checking, Savings, Investments, Debit Cards | homepage = {{URL|http://kenya.accessbankplc.com}} }}
'''Access Bank Kenya''' (ABK), whose complete name is '''Access Bank (Kenya) PLC''', formerly '''Transnational Bank Kenya PLC''', is a commercial bank in Kenya. It is licensed and regulated by the Central Bank of Kenya, the national banking regulator.<ref name="1R">{{cite web|date=31 August 2020 | url=https://www.businessdailyafrica.com/corporate/companies/Access-renames-Moi-linked-bank/4003102-5616598-42c4lyz/index.html | title=Access renames Moi-linked bank after Sh1.4bn buyout | newspaper=Business Daily Africa |author=John Mutua | access-date=31 August 2020 |location=Nairobi}}</ref>
==History== TNB was established as a non-bank financial institution (NBFI) in 1984, under the name '''Transnational Finance Company (TNFC)'''. TNFC provided loans, including lease-purchase arrangements to depositors and non-depositors. In 1985, following the issuance of a commercial banking license by the Central Bank of Kenya, the national banking regulator, the company began banking operations under its current name in Nairobi and Mombasa. At first other locations in the country continued to operate as TNFC offices. Between 1985 and 1996, all TNFC activities were merged with TNB and the TNFC brand was closed. The bank has one subsidiary; '''TNB Forex Bureau''', located at Moi International Airport in Mombasa. The bank is also affiliated with Western Union, the American International money-transfer service.<ref name="2R">{{cite web|newspaper=Business Daily Africa | url=http://www.businessdailyafrica.com/Corporate-News/Trans-National-Bank-in-Sh1bn-private-share-sale-plan/-/539550/2407194/-/6d6h5az/-/index.html |title=Trans-National Bank In KSh1 Billion Private Share Sale Plan |date=3 August 2014 |author=David Herbling |access-date=3 August 2014 | place=Nairobi}}</ref> In 2009, TNB introduced Internet banking and mobile banking through mobile telephones.<ref name="3R"> {{cite web|title=Trans-National Bank Launches Internet Banking | url=http://www.standardmedia.co.ke/article/1144008079/trans-national-bank-launches-internet-banking |author=James Anyanzwa | date=5 March 2009 |access-date=3 August 2014 |publisher=The Standard (Kenya)}}</ref>
==Overview== The bank is a medium-sized commercial bank in Kenya, East Africa's largest economy. {{asof|December 2015}}, its assets were valued at about US$105.84 million (KES:10.53 billion), with shareholders' equity of about US$20.43 million (KES:2.033 billion).<ref name="4R">{{cite web|date=30 March 2016|url=https://www.tnbl.co.ke/wp-content/uploads/2016/04/2015-Annual-Report.pdf|format=PDF|title=Transnational Bank Limited Annual Report & Financial Statements As At 31st December 2015|publisher=Transnational Bank (TNB)|last=TNB |location=Nairobi}}</ref>
==Branch network== The bank maintained 17 networked branches in Kenya, as of December 2013.<ref name="5R">{{cite web |access-date=3 August 2014 |url=http://www.tnbl.uco.ke/annual_reports.php |title=31 December 2013 Audited Financial Report |publisher=Transnational Bank |date=31 December 2013 |last=Transnational Bank |place=Nairobi }}{{Dead link|date=July 2023 |bot=InternetArchiveBot |fix-attempted=yes }}</ref>
==Ownership== The shares of stock of Transnational Bank were privately held by Kenyan institutions and individuals. {{asof|December 2015}}, the major shareholders in the bank were as depicted in the table below:<ref name="4R"/>
{| class="wikitable sortable" style="margin-left:auto;margin-right:auto" |+ '''Trans National Bank Kenya Stock Ownership''' |- ! style="width:2em;" |Rank !!Name of Owner!!Percentage Ownership |- |1||Archers and Wilcock Limited||23.75 |- |2||Sovereign Trust Limited||23.03 |- |3||Duggan Limited||15.53 |- |4||Pyramid Trustee Limited||15.12 |- |5||November Nominees Limited||07.28 |- |6||Simbi Investors||04.11 |- |7||Losupuk Limited||02.79 |- |8||Kenyerere Limited||02.15 |- |9||Lohan Investments Limited ||01.42 |- |10||Others ||04.80 |- | ||'''Total'''||'''100.00''' |- |}
==Acquisition== On 31 October 2019 the Business Daily Africa newspaper reported that Access Bank Nigeria, had received regulatory approval from the Competition Authority of Kenya (CAK) to acquire 93.57 percent in Transnational Bank of Kenya. The transaction had yet to receive the approval of the Central Bank of Kenya, as of October 2019.<ref name="6R">{{cite web| url=https://www.businessdailyafrica.com/news/Moi-family-linked-Transnational-Bank-sold/539546-5331400-cbw4wi/index.html | title=Moi Family-Linked Transnational Bank Sold To Top Nigerian Lender |newspaper=Business Daily Africa |date=31 October 2019 |access-date=31 October 2019 | author=Patrick Alushula | location=Nairobi}}</ref>
In January 2020, the Central Bank of Kenya gave approval for Access Bank Group to acquire up to 100 percent shareholding in Transnational Bank.<ref name="7R">{{cite web|date=17 January 2020 |url=https://www.theeastafrican.co.ke/tea/business/nigerian-lender-gets-nod-to-acquire-100pc-stake-in-moi-linked-transnational-bank-1435014 |title=Nigerian lender gets nod to acquire 100pc stake in Moi-linked Transnational Bank |author=The EastAfrican |newspaper=The EastAfrican |access-date=31 August 2020 |place=Nairobi}}</ref> In August 2020, the take-over was consummated after the new owners paid KES:1.4 billion (approx. US$13 million) to buy-out the previous shareholders. The bank re-branded to Access Bank (Kenya) PLC.<ref name="1R"/>
==Aborted merger== When the deal by Access Bank Group to acquire Sidian Bank is concluded, it is expected that the new acquisition will be merged into Access Bank Kenya. When that happens, the combined bank is expected to have assets valued at over KSh57.1 billion (approx. US$492 million), with loans totaling KSh26.6 billion (approx. US$229 million). The deal required regulatory approval in Kenya and Nigeria.<ref name="MergeR">{{cite web|date=8 June 2022 | work=Business Daily Africa | url=https://www.businessdailyafrica.com/bd/corporate/companies/centum-sells-sidian-bank-for-sh4-3bn-to-nigerians-3841744 |title=Centum sells Sidian Bank for Sh4.3bn to Nigerian lender |author=Otiato Guguyu |access-date=8 June 2022 |location=Nairobi, Kenya}}</ref> In January 2023, Centum Investment Company Plc. called off the planned sale of the 83.4 percent shareholding that it owns in Sidian Bank to Access Bank Group. The time allocated to negotiations lapsed before agreement could be reached.<ref name="OffR">{{cite web| work=Reuters | url=https://www.reuters.com/world/africa/kenyas-centum-calls-off-sale-sidian-bank-majority-stake-nigerias-access-bank-2023-01-13/ | title=Kenya's Centum calls off sale of Sidian Bank majority stake to Nigeria's Access Bank |date=13 January 2023 |author=George Obulutsa and Kenneth Maxwell |access-date=12 February 2024}}</ref>
==See also== * List of banks in Kenya * Central Bank of Kenya * Economy of Kenya
==References== {{reflist|30em}}
{{Portal|Banks}} {{Authority control}} {{Banking in Kenya}} {{Nairobi}}
Category:Banks of Kenya Category:Banks established in 1984 Category:1984 establishments in Kenya Category:Companies based in Nairobi Category:Access Bank Group