Access Bank Expands, Acquires National Bank of Kenya
Access Bank Plc has announced the acquisition of the National Bank of Kenya (NBK) in a move aimed at strengthening its presence in East Africa and enhancing financial services across the region.
The acquisition, which was announced on Monday, reflects Access Bank’s commitment to expanding its public sector, corporate, retail, and digital banking capabilities in Kenya, a major hub for regional commerce.
The bank emphasized the significance of this milestone in a statement released via its official X channel.
“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,” the bank stated.
Access Bank views this acquisition as a catalyst for financial expansion, bringing together NBK’s local expertise and Access Bank’s global network 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.”
The transaction was approved by the Central Bank of Kenya (CBK) 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, 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 CBK and the National Treasury have approved this transfer.
The full completion of the transaction now marks the official integration of NBK into the Access Bank network, reinforcing the institution’s position in Kenya’s competitive banking sector.
The acquisition is expected to enhance Access Bank’s ability to provide innovative and efficient banking services to its customers in Kenya and across East Africa.
With this acquisition, Access Bank is poised to become a major player in the East African banking sector, leveraging its global network and NBK’s local expertise to drive growth and support economic development in the region.
The bank’s commitment to fostering economic development and delivering high-impact banking solutions is expected to have a positive impact on the region’s economy and financial sector.
The acquisition is also expected to create new opportunities for customers, employees, and stakeholders of both Access Bank and NBK, as the two institutions combine their strengths to create a more innovative and efficient banking ecosystem in Kenya. As the bank continues to expand its footprint in East Africa, it is likely to face new challenges and opportunities, and its ability to navigate these will be closely watched by industry analysts and stakeholders.
