The Central Bank of Kenya (CBK) has approved the full acquisition of the National Bank of Kenya (NBK) by Access Bank PLC from KCB Group PLC.
The announcement marks a major shift in Kenya’s banking landscape, as NBK changes ownership once again, less than six years after it was taken over by KCB.
CBK said the transaction was approved on April 4, 2025, under Section 13 (4) of the Banking Act.
The Cabinet Secretary for National Treasury and Economic Planning gave final approval on April 10, 2025, in line with Section 9 of the same law.
In a statement released on Friday, CBK also confirmed that it had approved the transfer of certain assets and liabilities of National Bank to KCB Group.
“The acquisition and transfer shall take effect upon completion of the transaction in accordance with the terms of the agreement between the parties,” the statement read.
National Bank was established in 1968 as a fully government-owned bank to help Kenyans access credit and take part in the country’s economy after independence.
In September 2019, KCB Group acquired all shares of NBK, making it a subsidiary of the regional banking giant.
CBK said the entry of Access Bank, a leading Nigerian lender with presence in more than a dozen countries, will strengthen Kenya’s banking sector.
“CBK welcomes this transaction as it will ensure continued stability and enhance the resilience of the Kenyan banking sector,” the regulator stated.
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