Access Bank Plc has officially announced its acquisition of the National Bank of Kenya (NBK), marking a significant step in its strategy to strengthen its presence in East Africa. The move is expected to boost the bank’s ability to deliver cutting-edge financial services across the region.
The acquisition, made public on Monday, underscores Access Bank’s long-term vision to become a leading player not only in Nigeria but across the African continent. By taking over NBK, the bank aims to expand its offerings in the public sector, corporate finance, retail banking, and digital financial solutions—all key segments in Kenya’s dynamic economy.
In a statement shared via its official X (formerly Twitter) channel, Access Bank described the acquisition as a “milestone moment” and a testament to its commitment to regional growth and innovation. The bank highlighted Kenya’s importance as a strategic hub for East African trade and finance, noting that NBK’s integration would significantly enhance its service delivery across borders.
“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.”
Access Bank considers this acquisition a strategic driver of financial growth, aiming to fuse the deep-rooted local knowledge of the National Bank of Kenya (NBK) with Access Bank’s broad international reach. The bank believes that this powerful combination will pave the way for a more dynamic, forward-thinking, and streamlined banking environment in Kenya. By integrating NBK’s understanding of the local market with its own global capabilities, Access Bank seeks to deliver enhanced financial solutions, promote innovation, and improve customer experience across both public and private sectors in the country.
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 received approval from the Central Bank of Kenya (CBK) on April 4, 2025, under Section 13(4) of the Banking Act, and was further endorsed by the Cabinet Secretary for the National Treasury and Economic Planning on April 10, 2025, in accordance with Section 9 of the same Act.
As part of the acquisition process, specific assets and liabilities of NBK were transferred to KCB Bank Kenya Limited, a subsidiary of KCB Group, to facilitate a seamless transition and financial realignment. This transfer was approved by both CBK and the National Treasury.
With the transaction now fully completed, NBK is officially integrated into the Access Bank network, strengthening the bank’s presence within Kenya’s banking industry.
