Key Takeaways:
- Access Bank’s ownership of NBK follows a series of transactions dating back to 2019.
- The Central Bank of Kenya has approved the transfer of NBK’s business, assets and liabilities to the bank.
- CBK says the transaction will support stability, resilience and competition in Kenya’s banking sector.
Access Bank has completed the process of taking over the business, assets and liabilities of National Bank of Kenya, seven years after the Kenyan lender was first acquired by KCB Group.
The Central Bank of Kenya said Wednesday that it had approved the transfer of all assets and liabilities of Access Bank (Kenya) Plc to National Bank of Kenya Limited.
The approval followed the Cabinet Secretary for the National Treasury and Economic Planning’s approval on Sept. 21, while CBK had approved the transaction on Aug. 17.
“The transfer shall take effect upon completion of the transaction in accordance with the terms of the Business and Assets Transfer Agreement between the parties,” CBK said in a press release.
The transaction brings together the operations of Access Bank Kenya and NBK under NBK, following a series of ownership changes involving the two institutions.
Access Bank completes NBK transition
NBK was incorporated in 1968 as a wholly owned government institution to help Kenyans access credit and support economic development after independence.
KCB Group acquired 100% of NBK in September 2019. Almost six years later, Access Bank PLC acquired the entire issued share capital of NBK from KCB Group in May 2025.
Access Bank’s entry into Kenya dates to February 2020, when the Nigerian banking group acquired 100% of Transnational Bank Plc and renamed it Access Bank (Kenya) Plc.
The latest transaction therefore completes a long-running restructuring of Access Bank’s Kenyan operations and NBK’s ownership. It also consolidates the two banking operations under NBK as Access Bank continues to expand its presence across Africa.
Access Bank PLC is a subsidiary of Access Holdings and has banking operations across several African markets, including Nigeria, Ghana, Kenya, Rwanda, South Africa and Zambia. The group also operates in the United Kingdom, United Arab Emirates, China, India and Lebanon.
CBK expects stronger banking competition
CBK said it welcomed the transaction, citing its potential effect on the wider Kenyan banking industry.
The regulator said the transfer would “ensure continued stability and enhance resilience of the Kenyan banking sector and promote competition.”
The transaction comes as Kenyan banks continue to undergo consolidation and ownership changes as lenders seek greater scale and regional reach.
For Access Bank, the completion of the NBK transaction strengthens its position in Kenya while adding the operations and assets of one of the country’s oldest banking institutions to its existing presence.
NBK’s history stretches back more than five decades. Its ownership has changed significantly in recent years, moving from government ownership to KCB Group and subsequently to Access Bank.
The CBK said the transfer was approved under Section 13(4) of the Banking Act, while the Treasury approval was granted under Section 9(1) of the same law.
The transfer is subject to completion of the Business and Assets Transfer Agreement between the parties, according to the regulator.
