Access Bank Acquires National Bank of Kenya

Access Bank PLC, a Deposit Money Bank (DMB) in Nigeria, has officially acquired the National Bank of Kenya (NBK), completing a strategic transaction aimed at expanding its footprint in East Africa.

The announcement was made Monday via the bank’s official X (formerly Twitter) handle. “Access Bank PLC has acquired National Bank of Kenya, a strategic move to deepen our presence in East Africa,” the statement read.

The acquisition was earlier reported by Pointblanknews.com, which revealed that Nigeria’s leading money deposit bank had acquired 100 per cent shareholding in NBK from KCB Group PLC.

The Central Bank of Kenya (CBK) confirmed the deal, disclosing that regulatory approvals were granted earlier in April.

“This follows CBK’s approval on April 4, 2025, and approval by the Cabinet Secretary for the National Treasury and Economic Planning on April 10, 2025,” the regulator said in a statement.

Access Bank emphasised the significance of the acquisition, saying, “Kenya stands at the heart of regional commerce, and with NBK now part of the Access Bank family, we are better positioned to leverage our combined strengths in public sector, corporate, retail and digital banking to deliver high-impact banking solutions to you.”

CBK also approved the transfer of selected assets and liabilities from NBK to KCB Bank Kenya Limited, a KCB Group subsidiary.

“The acquisition and transfer shall take effect upon completion of the transaction in accordance with the terms of the Agreement between the parties,” CBK added.

Access Bank expressed optimism about its new role in the Kenyan market.

“With NBK’s heritage and local expertise, combined with our innovative, global network, we are ready to drive growth and support progress where it matters most,” the bank stated.

Founded in 1968 as a government-owned institution, NBK was created to provide credit access to Kenyans after independence. It was acquired in full by KCB Group in 2019 and operated alongside the group’s insurance subsidiary, NBK Bancassurance Intermediary Limited.

Access Bank, a subsidiary of Access Holdings PLC, is headquartered in Nigeria and operates across 13 African countries, including Ghana, Rwanda, and South Africa, and maintains offices in the UK, UAE, China, Lebanon, and India.

“CBK welcomes this transaction as it will ensure continued stability and enhance the resilience of the Kenyan banking sector,” the regulator said.