Access Bank, a subsidiary of Nigeria-based Access Holdings Plc, has received regulatory approvals to acquire a 100% equity stake in the National Bank of Kenya (NBK).
The Central Bank of Kenya (CBK) and Kenya’s National Treasury and Economic Planning jointly approved the transaction, allowing Access Bank to purchase NBK shares from KCB Group Plc, which has fully owned the bank since 2019.
According to a statement released by the CBK on Monday, the central bank granted its approval on April 4, 2025, in accordance with Section 13(4) of the Banking Act. The Cabinet Secretary for the National Treasury and Economic Planning followed suit with an additional approval on April 10, 2025, under Section 9 of the same Act.
As part of the acquisition arrangement, selected assets and liabilities of NBK will be transferred to KCB Bank Kenya Limited, a wholly owned subsidiary of KCB Group. Both CBK and the Treasury Secretary have approved this restructuring.
The full transfer of NBK’s ownership and the asset-liability adjustments will take effect upon the completion of the transaction, which is guided by the terms agreed between Access Bank and KCB Group.
This deal follows a binding agreement signed in March 2024 between the two financial institutions.
Access Bank's acquisition of NBK expands its footprint in East Africa and aligns with its broader strategy of becoming Africa’s gateway to the world.
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