Access Bank Plc Makes Strategic Acquisition of National Bank of Kenya
Access Bank Plc has recently announced its successful acquisition of the National Bank of Kenya (NBK), a move that solidifies its position in East Africa and demonstrates its commitment to regional growth and innovation. This acquisition, revealed on Monday, reflects Access Bank’s broader vision of becoming a leading player not just in Nigeria but across the African continent.
By taking over NBK, Access Bank aims to expand its financial services offerings in key sectors such as public sector, corporate finance, retail banking, and digital financial solutions in Kenya’s vibrant economy. The integration of NBK into Access Bank’s operations is expected to enhance the bank’s ability to deliver cutting-edge financial services throughout the region.
In a statement released via its official X channel (formerly Twitter), Access Bank emphasized the significance of the acquisition as a milestone moment in its journey towards regional expansion and growth. The bank highlighted Kenya’s strategic importance as a hub for East African trade and finance, noting that the integration of NBK would significantly improve its service delivery across borders.
Access Bank’s acquisition of NBK is viewed as a strategic move to deepen its presence in East Africa and leverage the combined strengths of both institutions in public sector, corporate, retail, and digital banking. The bank believes that the integration of NBK’s local expertise with Access Bank’s global network will result in a more dynamic and efficient banking environment in Kenya, ultimately enhancing financial solutions, fostering innovation, and improving customer experience in both public and private sectors.
The approval for this transaction was granted by the Central Bank of Kenya (CBK) on April 4, 2025, under the Banking Act, and further endorsed by the Cabinet Secretary for the National Treasury and Economic Planning on April 10, 2025. Specific assets and liabilities of NBK were transferred to KCB Bank Kenya Limited, a subsidiary of KCB Group, to ensure a seamless transition and financial realignment, as approved by both CBK and the National Treasury.
With the completion of the acquisition process, NBK is now officially integrated into the Access Bank network, reinforcing the bank’s presence in Kenya’s banking industry and setting the stage for continued growth and development in the region. Access Bank remains committed to driving economic progress and supporting innovation where it matters most, building on the heritage and local expertise of NBK to create a more robust and customer-centric banking ecosystem.
