Nairobi, Feb. 3 -- Nigeria's Access Bank says it will look for other buyout opportunities in Kenya and the rest of East Africa after its proposed acquisition of Sidian Bank collapsed after the parties failed to reach an agreement.

The multinational is keen to grow in Kenya having bought a 99.98 percent stake in Transnational Bank -a small institution- in July 2020 at a cost equivalent to Sh1.5 billion excluding a deferred consideration.

Large banks have more assets and clients, placing them in a better position to grow their earnings as costs take up a smaller portion of revenue.

"Consequently, we hereby notify the Nigerian Exchange Ltd and the investing public that Sidian acquisition will no longer be completed by the bank," Access Ba...