Access Bank Kenya assets and liabilities set for transfer to National Bank
Access Bank Kenya’s assets and liabilities are to be transferred to the National Bank of Kenya after the parties complete a transaction governed by a Business and Assets Transfer Agreement, according to a statement. The material provided does not disclose the transaction’s value, timetable or other terms.
Access Bank Kenya’s assets and liabilities are to be transferred to the National Bank of Kenya, according to a statement reported by Premium Times. The statement said the transfer would take effect after completion of the transaction. It did not provide a specific completion date in the material available.
The transaction is to be carried out under the terms of a Business and Assets Transfer Agreement between the parties. The statement did not identify additional provisions of the agreement. No details were provided on the value of the transaction, the assets involved, the liabilities to be assumed or the effect on customers and employees.
The available statement also did not explain whether regulatory approvals or other conditions remained outstanding. The announcement concerns Access Bank Kenya and the National Bank of Kenya. The supplied report contains no further information about the institutions’ operations or the reason for the proposed transfer.
This independently written report is based on information supplied by the named publisher. Vertrix News has not independently verified the source report.