Access Bank finalises acquisition of National Bank of Kenya, expands East African footprint

Access Bank Plc has finalised the acquisition of National Bank of Kenya (NBK), strengthening its East African footprint and expanding its public sector, corporate, retail, and digital banking services in Kenya

[dropcap]A[/dropcap]ccess Bank Plc has announced the successful acquisition of the National Bank of Kenya (NBK), a strategic move aimed at significantly strengthening its presence in East Africa and enhancing financial services across the region.

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The acquisition, formally announced on Monday, June 2, 2025, underscores Access Bank’s commitment to expanding its public sector, corporate, retail, and digital banking capabilities within Kenya, which serves as a major hub for regional commerce.

In a statement released via its official X channel, the bank emphasized the significance of this milestone: “Access Bank PLC has acquired National Bank of Kenya, a strategic move to deepen our presence in East Africa. 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.”

Driving Growth and Financial Progress in Kenya

Access Bank views this acquisition as a potent catalyst for financial expansion, seamlessly integrating NBK’s local expertise with Access Bank’s extensive global network.

This merger aims to create a more innovative and efficient banking ecosystem in Kenya.

The bank reiterated its commitment to fostering economic development, stating: “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.”

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.

Regulatory Approvals and Transaction Finalization

The successful completion of the transaction follows key regulatory approvals.

The Central Bank of Kenya (CBK) granted its approval on April 4, 2025, under Section 13(4) of the Banking Act, with additional approval from the Cabinet Secretary for the National Treasury and Economic Planning on April 10, 2025, pursuant to Section 9 of the same Act.

As part of the acquisition process, certain assets and liabilities of NBK were transferred to KCB Bank Kenya Limited, a subsidiary of KCB Group, ensuring a smooth transition and financial restructuring.

Both the CBK and the National Treasury have approved this transfer.

The full completion of the transaction now officially integrates NBK into the Access Bank network, significantly reinforcing the institution’s competitive position within Kenya’s dynamic banking sector.

Access Bank’s Expanding Global Footprint

Access Bank Plc operates under its parent company, Access Holdings Plc, a prominent financial conglomerate headquartered in Nigeria.

In recent years, the institution has aggressively expanded its presence across the African continent and into international markets, now operating in over a dozen African countries, including Kenya, Ghana, Rwanda, Mozambique, Zambia, and South Africa.

Additionally, Access Bank maintains operations in the UK, UAE, and representative offices in strategic locations like China, Lebanon, and India, further solidifying its global banking presence.

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With NBK now fully integrated, Access Bank significantly strengthens its standing in Kenya’s vibrant financial sector, reinforcing its broader East African expansion strategy and driving sustainable banking solutions across the entire region.