Access Bank Expands East African Presence with Strategic Acquisition of National Bank of Kenya
By Okafor Joseph Afam, Reporter, SpringNewsNG Media Limited — April 14, 2025
Access Bank Plc, Nigeria’s largest bank by total assets and a subsidiary of Access Holdings Plc, has finalized the acquisition of National Bank of Kenya Limited (NBK) from KCB Group Plc, marking a major milestone in its East African expansion drive.
The landmark transaction received approval from the Central Bank of Kenya (CBK) on April 4, 2025, in line with Section 9 of the Banking Act. Following that, the Cabinet Secretary for the National Treasury and Economic Planning gave final consent on April 10, 2025, authorizing the transfer of select assets and liabilities of NBK to KCB Bank Kenya Limited.
The acquisition will become effective upon the full implementation of the terms outlined in the agreement between Access Bank and KCB Group.
NBK, established in 1968, became a fully owned subsidiary of KCB Group in 2019. It also owns NBK Bancassurance Intermediary Limited, extending its reach in the insurance space.
With this move, Access Bank deepens its footprint in Kenya’s competitive financial services sector and reinforces its long-term strategy to dominate the East African banking landscape. The acquisition builds on Access Bank’s existing operations in Kenya and complements its wide African footprint, which includes Ghana, Rwanda, Mozambique, Zambia, and South Africa.
Globally, the bank operates in the United Kingdom and the United Arab Emirates and maintains representative offices in China, Lebanon, and India—positioning itself as a key player in cross-border banking.
This acquisition marks a bold step toward Access Bank’s vision of becoming Africa’s gateway to the world by providing innovative and inclusive financial solutions.
