Access Bank Plc has expanded its international footprint with the acquisition of a 76 per cent majority stake in AfrAsia Bank Limited, a Mauritius-based commercial bank.
The transaction was completed through Access Bank UK Limited, a wholly owned subsidiary of Access Bank Plc, and received regulatory approvals from the Bank of Mauritius and the Financial Services Commission.
AfrAsia Bank, headquartered in the Mauritius International Financial Centre, serves clients across Africa, Asia, and global markets. It will retain IBL Ltd, its founding shareholder, as a minority stakeholder with a 7.89 per cent equity holding.
The acquisition adds AfrAsia’s platform to Access Bank UK’s existing presence in London, Dubai, Paris, Hong Kong, Malta, and Lagos, enhancing operational strength and customer service capabilities.
Access Bank UK Limited is built on strong financial risk management and corporate governance, with a solid balance sheet and capital adequacy ratios.
This marks Access Bank’s second international acquisition in one month, following its June takeover of Standard Chartered Tanzania’s Consumer, Private, and Business Banking division.
The acquisitions align with Access Bank’s strategy to become a pan-African financial powerhouse, delivering inclusive, tech-driven services across emerging markets.
