Access Bank Completes Acquisition of National Bank Of Kenya From KCB Group

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Access Bank PLC has officially completed the acquisition of National Bank of Kenya (NBK) from KCB Group PLC.

The deal, which saw Access Bank take over 100% of NBK’s shareholding, received the green light from the Central Bank of Kenya (CBK) on April 4, 2025, under Section 13(4) of the Banking Act.

“Pursuant to section 13 (4) of the Banking Act, the Central Bank of Kenya on 4th April, 2025, approved the acquisition of 100 percent of the issued share capital of National Bank of Kenya Limited by Access Bank PLC,” CBK governor Kamau Thugge said in a gazette notice.

It was later approved by the Cabinet Secretary for the National Treasury and Economic Planning on April 10, as required by Section 9 of the same law.

As part of the acquisition process, CBK also approved the transfer of select assets and liabilities from National Bank of Kenya to KCB Bank Kenya Limited, a wholly owned subsidiary of KCB Group. That approval was also backed by the National Treasury.

The acquisition marks Access Bank’s second acquisition in Kenya in just five years, having previously bought out Transnational Bank in 2020.

Read: Access Bank Plc Acquires 100% Equity in South Africa’s Bidvest Bank

Access Bank is expected to inject additional capital into NBK, which has struggled financially in recent years. Since KCB Group acquired NBK in 2019, the parent company has pumped more than $63.5 million into the bank in efforts to stabilize and revive it.

Founded in 1968, NBK was originally a government initiative aimed at empowering Kenyans to access credit and take part in building the post-independence economy.

It later became a subsidiary of KCB Group, which itself owns banking operations across the region, including Uganda, Rwanda, Tanzania, South Sudan, Burundi, the DRC, and a representative office in Ethiopia.

For Access Bank, the acquisition of National Bank of Kenya continues its growing presence across Africa and beyond, with operations in 17 countries including Ghana, South Africa, Zambia, and the UK, as well as representative offices in China, Lebanon, India, and a branch in the UAE.

CBK welcomed the transaction, calling it a positive step toward ensuring continued stability and deepening resilience in Kenya’s financial sector.

Jefferson Wachira is a writer at Africa Digest News, specializing in banking and finance trends, and their impact on African economies.