The Board of Directors of AfrAsia Bank Limited (the “Bank”) wishes to inform its stakeholders that The Access Bank UK Limited, a wholly owned subsidiary of Access Bank Plc, has finalised the acquisition of a 76% majority stake in the Bank’s share capital. The transaction has received all necessary regulatory approvals.

 

IBL Ltd, founding shareholder of AfrAsia Bank Limited, will retain a 7.89% stake in the Bank. This continued shareholding reflects IBL’s sustained confidence in the Bank.

 

The 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.

 

With offices in London, Dubai, Paris, Hong Kong, Malta and Lagos, The Access Bank UK Limited brings extensive international banking expertise and a proven track record of excellence in customer service.

 

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.

 

Note: The Access Bank UK Limited completed this acquisition through its wholly owned subsidiary, Access Holdings (Mauritius) Ltd.

 

 

By order of the Board

24 July 2025