In a move signaling further consolidation in Kenya’s banking sector, Access Bank PLC has acquired a 100% stake in the National Bank of Kenya (NBK) from KCB Group PLC. The deal, approved by the Central Bank of Kenya (CBK) and the National Treasury, marks another chapter in the evolving story of regional banking.
The acquisition was greenlit by CBK on April 4, 2025, under Section 13 (4) of the Banking Act, with the final nod coming from the Cabinet Secretary for the National Treasury and Economic Planning on April 10. Alongside the acquisition, certain assets and liabilities of NBK are being transferred to KCB Bank Kenya, further streamlining operations within the KCB Group’s portfolio.
NBK has long held a symbolic place in Kenya’s banking history. Established in 1968 as a state-owned institution, its founding mission was to empower Kenyans economically in the post-independence era. In 2019, the bank became part of the KCB family when KCB Group acquired full ownership.
Fast forward to 2025, and NBK is now part of the Access Bank family — a Nigerian banking giant with an increasingly global presence. Access Bank, a subsidiary of Access Holdings PLC, is already active across Africa and beyond, with operations in countries ranging from Ghana and Zambia to the UK, UAE, and even China and India via representative offices.
This acquisition reflects Access Bank’s ambition to deepen its presence in Kenya and strengthen its East African strategy. For Kenya, CBK says the deal is a positive step toward reinforcing financial sector stability and resilience.
As the transaction wraps up, customers of NBK and Access Bank can expect a gradual integration process — but one that promises broader services, deeper capital backing, and an increasingly pan-African banking experience.
