ACCESS Bank Plc said it had completed the acquisition of the National Bank of Kenya (NBK) in a strategic move to strengthen its footprint in East Africa and enhance financial services across the region.
The bank announced this in a statement on Monday, June 2.
Following the acquisition, the bank said it would expand its public sector, corporate, retail, and digital banking capabilities into the Kenyan market.
“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.
It explained that the acquisition would catalyse its financial expansion, bring together NBK’s local expertise and its global network to create a more innovative and efficient banking ecosystem in Kenya.
“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 bank said.
The Central Bank of Kenya (CBK) had April 4, 2025, approved the acquisition under Section 13(4) of its Banking Act.
Also, the Cabinet Secretary for the National Treasury and Economic Planning had on April 10, 2025, pursuant to Section 9 of the same Act, given its approval.
According to Access Bank, as part of the acquisition, certain assets and liabilities of NBK were transferred to KCB Bank Kenya Limited, a subsidiary of KCB Group, to ensure a smooth transition and financial restructuring.
It noted that both the CBK and the National Treasury had approved the 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 ICIR reports that Access Bank and KCB Group had, in March 2024, signed a binding agreement to acquire 100 per cent shareholding in NBK from KCB.
Commenting, the managing director and chief executive officer (CEO) of Access Bank, Roosevelt Ogbonna, said the acquisition represented a significant step toward unlocking the potential of East Africa’s financial landscape.
“Kenya stands at the heart of regional commerce, and with NBK now part of the Access Bank family, are better positioned to leverage our combined strengths to deliver high-impact banking solutions to individuals, businesses, and government institutions alike,” Ogbonna added.
The ICIR reports also that Access Bank operates in over a dozen African countries, including Kenya, Ghana, Rwanda, Mozambique, Zambia, and South Africa.
The bank also maintains operations in the United Kingdom and United Arab Emirates and representative offices in China, Lebanon, and India.