Access Holdings Plc has announced that its subsidiary, Access Bank Plc, has successfully acquired 100% of the share capital of National Bank of Kenya (NBK) from KCB Bank Group Plc, following regulatory approvals from the Central Bank of Kenya (CBK) and other relevant authorities— marking the conclusion of a transaction that began in March 2024.
The acquisition also includes NBK’s subsidiary, NBK Bancassurance Intermediary Limited, and received clearance from the COMESA Competition Commission in August 2024 for not adversely affecting market competition.
This acquisition marks a pivotal step in Access Bank’s strategy to strengthen its foothold in Kenya and the broader East African market.
NBK, established in 1968 as government-owned entity and fully acquired by KCB Group in September 2019, operates 85 branches across Kenya. With Access Bank’s existing 22 branches—established after its 2020 acquisition of Transnational Bank Plc for $12.8 million—the merged operations will create Access Bank (Kenya) PLC, with a network of 107 branches nationwide.
The acquisition follows Access Bank’s unsuccessful attempt in January 2023 to acquire an 83.4% stake in Sidian Bank Ltd from Centum, despite regulatory approval. Access Bank now plans to integrate NBK into its Kenyan operations, further solidifying its regional presence.
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