Access Bank Secures Full Acquisition of National Bank of Kenya

Access Bank PLC, a subsidiary of Nigeria’s Access Holdings PLC, has finalized the acquisition of the National Bank of Kenya (NBK) after securing all necessary regulatory approvals. The Central Bank of Kenya (CBK) and the country’s National Treasury granted their consents on April 4 and April 10, 2025, respectively, allowing the Nigerian lender to complete its purchase of NBK from KCB Group PLC.

According to the CBK, the acquisition will also involve the transfer of select assets and liabilities of NBK to KCB Bank Kenya Limited, another subsidiary of the KCB Group. This transaction marks the end of KCB’s ownership of NBK, which it had acquired fully in 2019.

Established in 1968 as a state-owned institution, the National Bank of Kenya was initially created to provide credit access and support indigenous economic control in post-independence Kenya. With this acquisition, Access Bank strengthens its presence in the East African financial market, as part of its broader strategy to expand across the continent.

The bank, which already operates in countries including Ghana, South Africa, Mozambique, Zambia, and Rwanda, now deepens its hold in Kenya while also maintaining an international presence in the United Kingdom, United Arab Emirates, China, Lebanon, and India.

In a statement, the Central Bank of Kenya expressed support for the deal, describing it as one that enhances the stability of the Kenyan banking sector and aligns with its goals of sound financial development and depositor protection. The acquisition is expected to take effect upon completion of all formal procedures outlined in the agreement between Access Bank and KCB Group.