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The Central Bank of Kenya (CBK) has granted approval for Access Bank PLC of Nigeria to fully acquire National Bank of Kenya Limited (NBK), having met all regulatory requirements.
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This green light follows an earlier endorsement from the Cabinet Secretary for National Treasury and Economic Planning, who authorized the transaction on April 10, 2025, under Section 9 of the Banking Act.
In a statement, CBK noted that it had also approved the transfer of specific NBK assets and liabilities to KCB Bank Kenya Limited on April 4, 2025, in line with the same section of the law. The Treasury Cabinet Secretary later affirmed this transfer.
“The acquisition and related transfers will take effect once the transaction is finalized as per the agreement between the involved parties,” the statement said.
Established in 1968 as a fully state-owned entity, NBK was acquired by KCB Group in 2019.
Access Bank, a subsidiary of Access Holdings PLC, operates in several African countries including Kenya, as well as in the UK, with representative offices in China, India, and Lebanon, and a branch in the UAE. CBK expressed support for the transaction, noting that it will reinforce the stability and resilience of Kenya’s banking industry.
