Access Bank Plc and KCB Group PLC have officially completed the acquisition of National Bank of Kenya Limited (NBK) by Access Bank, finalizing a transaction that commenced in March 2024. This follows the receipt of all regulatory approvals required for a transaction of this nature.
With the completion of the deal, NBK, formerly wholly owned by KCB Group, is now a fully owned subsidiary of Access Bank Plc. For now, both NBK and Access Bank Kenya will continue to operate independently, pending the conclusion of integration efforts.
This strategic acquisition is a significant milestone in Access Bank’s East African expansion strategy, positioning the bank to deepen its footprint in Kenya and offer an enhanced suite of financial services to individuals, businesses, and government institutions across the region.
Roosevelt Ogbonna, Managing Director/Chief Executive Officer of Access Bank Plc, stated: “Finalising this acquisition marks a significant step in our drive towards unlocking the vast potential of East Africa’s financial landscape. Kenya stands at the heart of regional commerce, and with NBK now part of the Access Bank family, we are better positioned to leverage our combined strengths to deliver high-impact banking solutions to individuals, businesses, and government institutions alike.
NBK’s heritage and local expertise, combined with our pan-African network and innovation-led approach, will enable us to serve as a stronger catalyst for economic growth. Our ambition is clear: to be the bridge that connects African businesses to global markets, fuel intra-African trade, and drive inclusive prosperity.”
The transaction underscores the evolving dynamics of Africa’s banking sector and the push toward building stronger, more resilient financial institutions.
Paul Russo, Chief Executive Officer of KCB Group, remarked: “The completion of this transaction marks a significant milestone for KCB Group in our efforts to create and deliver value for our shareholders. We are confident the sale will unlock new opportunities for all stakeholders.
KCB Group will work closely with Access Bank to ensure a smooth handover, operational transition, and collaborate on the finalization of system and governance transfers in line with regulatory guidelines and service-level expectations.
We remain committed to engaging with all relevant stakeholders to ensure compliance and maintain customer confidence throughout the integration process.”
George Odhiambo, Managing Director of NBK, added: “NBK has a proud legacy of serving Kenya’s public sector, and this integration with Access Bank presents an exciting opportunity to build on that foundation.
Access Bank’s expertise across corporate, retail, and digital banking – alongside a strong commitment to public sector support – will enhance our ability to serve customers comprehensively and expand our reach.”
With the legal aspects of the transaction now concluded, both institutions will begin a coordinated transition phase to ensure a seamless integration. In the meantime, customers will continue to access banking services through their current channels, whether via NBK or Access Bank Kenya.
Immediate focus areas include alignment of operations, unification of teams, and harmonisation of product offerings, with the long-term goal of establishing a single, consolidated banking entity that delivers enhanced value to clients across Kenya and the broader East African region.