Access Bank Plc and KCB Group Plc have formally announced the successful completion of the sale of National Bank of Kenya Limited to Access Bank Plc, finalizing a transaction that began in March 2024.
According to a statement issued by the Bank on Friday, the acquisition was concluded after obtaining all required regulatory approvals, reinforcing the bank’s strategic growth within the East African financial sector.
As a result of the deal, NBK—previously fully owned by KCB Group—is now a wholly-owned subsidiary of Access Bank Plc. Although the legal acquisition is complete, both NBK and Access Bank Kenya will continue to function separately for a transitional period while they undergo a detailed integration process.
Speaking on the completion of the deal, Roosevelt Ogbonna, Managing Director and Chief Executive Officer of Access Bank Plc, shared his optimism about the road ahead.
He said, “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.”
He reiterated the Bank’s ambition “to be the bridge that connects African businesses to global markets, fuel intra-African trade, and drive inclusive prosperity.”
