Access Bank has officially taken over the National Bank of Kenya (NBK) after receiving final approval from regulators.
On Monday, April 14, the Central Bank of Kenya (CBK) confirmed that Access Bank PLC has acquired 100 percent of the National Bank of Kenya’s shareholding from KCB Group PLC. The transaction was approved by CBK on April 4, 2025, and by the National Treasury Cabinet Secretary John Mbadi on April 10, 2025.
“The Central Bank of Kenya (CBK) announces the acquisition of 100 percent of the shareholding of National Bank of Kenya Limited (NBK) by Access Bank PLC from KCB Group PLC,” the regulator stated. The approval was granted under the Banking Act, allowing the acquisition to proceed within the legal framework.
In addition to the ownership transfer, CBK also approved the transfer of specific assets and liabilities from NBK to KCB Bank Kenya Limited. This transfer will take effect once all procedures outlined in the agreement are finalized.
The National Bank of Kenya was originally founded in 1968 as a government-owned bank. Its primary goal was to provide credit access to Kenyans and promote economic control following independence. In 2019, the KCB Group acquired full ownership of NBK, making it a subsidiary operating under the name NBK Bancassurance Intermediary Limited.
Access Bank PLC, the new owner, is a Nigerian financial institution under Access Holdings PLC. The bank has a strong presence across Africa, with subsidiaries in countries such as Botswana, Ghana, Rwanda, South Africa, and Mozambique. It also operates in the United Kingdom and has representative offices in China, India, and Lebanon, as well as a branch in the United Arab Emirates.
The acquisition marks a significant expansion of Access Bank’s footprint in Kenya and is part of its broader strategy to strengthen its presence across key African markets. Once the transaction is completed, Access Bank will fully integrate NBK into its operations, subject to the terms agreed with KCB Group.
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