Access Bank PLC has acquired 100 percent of the National Bank of Kenya Limited (NBK) shareholding from KCB Group PLC.
In a statement on Monday, April 14, the Central Bank of Kenya (CBK) said Access Bank acquired NBK following its approval on April 4, 2025.
CBK noted that National Treasury Cabinet Secretary John Mbadi also approved the acquisition of the bank on April 10, 2025.
“The Central Bank of Kenya (CBK) announces the acquisition of 100 percent of the shareholding of National Bank of Kenya Limited (NBK) by Access Bank PLC (Access) from KCB Group PLC (KCB Group). This follows CBK’s approval on April 4, 2025, under Section 13 (4) of the Banking Act, and approval by the Cabinet Secretary for the National Treasury and Economic Planning on April 10, 2025, pursuant to Section 9 of the Banking Act,” read the statement in part.
CBK also noted that it approved the transfer of certain assets and liabilities of National Bank of Kenya Limited to KCB Bank Kenya Limited pursuant to section 9 of the Banking Act.
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The acquisition and transfer will take effect upon completion of the transaction under the terms of the agreement between the parties.
NBK was incorporated in 1968 as a wholly owned Government entity with the objective of assisting Kenyans to access credit and control the economy after independence.
In September 2019, KCB Group Plc acquired a 100 percent shareholding of NBK, and it became a subsidiary of KCB and was named NBK Bancassurance Intermediary Limited.
On the other hand, Access Bank PLC is a Nigeria bank that is owned by Access Holdings PLC and has subsidiaries in Botswana, Cameroon, Democratic Republic of Congo, Gambia, Ghana, Guinea, Kenya, Mozambique, Nigeria, Rwanda, Sierra Leone, South Africa, Zambia, and the United Kingdom.
The bank also operates representative offices in China, Lebanon, and India and a branch in the United Arab Emirates.
