Access Bank acquires National Bank of Kenya, gaining a major foothold in East Africa’s financial sector. Deal finalised June 2, 2025, after CBK approval.
Nigerian banking giant Access Bank Plc has finalized the acquisition of National Bank of Kenya (NBK), marking a key milestone in its East African expansion strategy. The acquisition was publicly announced on June 2, 2025, following approvals from Kenyan financial authorities.
The Central Bank of Kenya (CBK) approved the deal on April 4, 2025, under Section 13(4) of the Banking Act. It was subsequently endorsed by the Cabinet Secretary for National Treasury and Economic Planning on April 10, 2025.
Access Bank stated that this acquisition will significantly enhance its footprint in Kenya, a country recognized as a regional fintech and banking hub. The bank intends to scale up services in retail, corporate, digital, and public sector banking.
“This transaction is part of our long-term vision to become Africa’s gateway to the world. Kenya is central to our East African growth strategy,” said Roosevelt Ogbonna, Managing Director and CEO of Access Bank.
As part of the broader transaction framework, selected NBK assets and liabilities were transferred to KCB Bank Kenya Ltd, a subsidiary of KCB Group. This step was designed to maintain financial stability and ensure a smooth operational transition for customers.
Founded in 1968, National Bank of Kenya has served as a key player in public sector and mid-sized corporate banking. Its integration into Access Bank brings local expertise that will support the Nigerian bank’s growing pan-African footprint, now spanning more than a dozen countries.
The acquisition aligns with Access Bank’s goal of creating a globally connected African banking platform. The bank aims to promote cross-border trade finance, fintech innovation, and financial inclusion across emerging markets.
Industry experts describe the move as part of a continental trend toward banking consolidation. African financial institutions are increasingly seeking regional diversification, digital transformation, and cross-border synergies to respond to global economic shifts.
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