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Access Bank acquires 76% stake in AfrAsia Bank to deepen international footprint 

Access Bank Plc, through its wholly owned subsidiary Access Bank UK Limited, has finalized the acquisition of a 76% majority stake in AfrAsia Bank Limited, a Mauritius-based commercial bank renowned for bridging banking services between Africa, Asia, and global markets.

The transaction, which has received all regulatory approvals from the Bank of Mauritius and the Financial Services Commission, marks a major strategic expansion for Access Bank and is aimed at boosting customer service excellence and global connectivity.

“The Board of Directors of AfrAsia Bank Limited wishes to inform stakeholders that The Access Bank UK Limited has completed the acquisition of a 76% majority stake in the bank’s share capital,” a company statement confirmed. 

AfrAsia Bank, headquartered in the Mauritius International Financial Centre, maintains a representative office in South Africa, serving clients across high-growth markets.

The bank will retain IBL Ltd, its founding shareholder, as a minority stakeholder with a 7.89% equity holding, reflecting continued investor confidence.

The acquisition adds AfrAsia’s platform to Access Bank UK’s existing international footprint in London, Dubai, Paris, Hong Kong, Malta, and Lagos, combining operational strength with proven customer service and financial governance.

The statement added that Access Bank UK Limited is built on a solid foundation of financial risk management and corporate governance with a strong balance sheet and excellent capital adequacy ratios.

“The Access Bank UK Limited will be supported by the Bank’s strong and dedicated team, whose proven track record and extensive ability in banking and investment which have contributed to making it one of the leading banking institutions in the region,”the statement said. 

These dual acquisitions in quick succession indicate a larger vision: positioning Access Bank as a pan-African powerhouse with global relevance, ready to meet the evolving demands of a digitally connected, investment-savvy customer base.