According to a statement released by the Central Bank of Kenya (CBK) on Monday, April 14, Access Bank is set to expand its East African footprint with the acquisition of Kenya’s National Bank (NBK) from KCB Group PLC.
The transaction, which involves the purchase of NBK shares, received regulatory approval from the CBK on April 4, 2025, under Section 13(4) of the Banking Act, and further endorsement from the Cabinet Secretary for the National Treasury and Economic Planning on April 10, 2025, under Section 9 of the same Act.
As part of the deal, select NBK assets and liabilities will be transferred to KCB Bank Kenya Ltd, a wholly owned subsidiary of KCB Group. The transaction is expected to be finalized in accordance with the agreement between Access Bank and KCB Group.
This acquisition is a strategic move by Access Bank to solidify its regional presence, following a wave of expansions across Africa’s major financial hubs.