Access Bank Completes Acquisition of National Bank of Kenya, Strengthens East Africa Expansion

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Access Bank Completes Acquisition of National Bank of Kenya, Strengthens East Africa Expansion

Access Bank Plc has officially completed its acquisition of the National Bank of Kenya (NBK), a strategic move that deepens the Nigerian bank’s presence in East Africa and enhances its capacity to deliver public sector, corporate, retail, and digital banking services across the region.

Positioning for regional leadership in financial services

In a statement published via its official X channel, Access Bank highlighted Kenya’s role as a key commercial hub and reiterated the bank’s long-term vision for the region.

“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 to deliver high-impact banking solutions,” the bank noted.

The acquisition combines NBK’s local market expertise with Access Bank’s global reach to create what the bank described as “an innovative and efficient financial ecosystem” designed to foster sustainable economic growth in Kenya.

Regulatory approval and strategic asset transfers

The Central Bank of Kenya (CBK) approved the transaction under Section 13(4) of the Banking Act.

As part of the transaction, selected assets and liabilities of NBK were transferred to KCB Bank Kenya Limited, a subsidiary of KCB Group. This step, approved by both the CBK and the National Treasury, was designed to facilitate a smooth financial restructuring and ensure regulatory compliance.

A broader expansion strategy under Access Holdings

Access Bank operates as a subsidiary of Access Holdings Plc, one of Nigeria’s largest financial services groups. In recent years, the institution has pursued aggressive growth across Africa and other global markets, with active operations in over a dozen African countries including Ghana, Rwanda, Zambia, South Africa, and now Kenya.

Beyond the continent, Access Bank also maintains operations in the UK and UAE, and has representative offices in China, Lebanon, and India.

The integration of NBK into Access Bank marks another milestone in the group’s East African expansion plan and reinforces its ambition to build a strong, pan-African banking franchise with global connectivity.