Access bank and National bank officials During the signing off for the Take over
Access Bank Plc has completed its acquisition of National Bank of Kenya (NBK) from KCB Group Plc.
The agreement, announced in March 2024, closed on May 30, 2025,following approvals from the Competition Authority of Kenya (CAK), and Central Bank of Kenya (CBK).
“This follows the receipt of all regulatory approvals customary for a transaction of this nature,” read part of the statement.
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As a result, NBK, where KCB Group had 100 percent ownership is now a wholly owned subsidiary of Access Bank Plc. NBK and Access Bank Kenya will continue to operate independently, pending the completion of all integration processes.
Paul Russo, KCB Group CEO, said the completion of this transaction marks a significant milestone for KCB Group in their efforts to create and deliver value for their shareholders.
“We are confident the sale will unlock new opportunities for all the stakeholders. KCB Group will work closely with Access Bank to ensure a smooth handover, operational transition and collaborate on customary transaction closure processes. This includes finalising the transfer of systems and governance functions in line with regulatory guidelines and service level commitments,” he said.
He noted that KCB Group will continue to engage relevant stakeholders to ensure compliance and preserve customer confidence throughout the post-transaction integration period.
The acquisition is a pivotal step in Access Bank’s expansion strategy in East Africa. The combined entity will significantly enhance Access Bank’s presence in Kenya, strengthening the bank’s presence in the region.This move will allow Access Bank to offer an even more robust suite of banking services, catering to the evolving needs of individuals and businesses across Kenya.
In addition, Roosevelt Ogbonna, Managing Director and Chief Executive Officer of Access Bank Plc, said finalising this acquisition marks a significant step in their 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,” Ogbonna stated.
Further, he said they are excited about what lies ahead as they lay the groundwork for a unified and more resilient banking presence in Kenya that empowers their customers and partners to thrive.
“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,” he said.
The transaction reflects ongoing market developments to enhance the banking sector’s resilience. George Odhiambo, Managing Director of NBK, added that NBK has a proud legacy of serving the public sector in Kenya, and this integration with Access Bank offers an exciting opportunity to build on that foundation.
“Access Bank’s expertise across corporate, retail, and digital banking combined with a strong public sector focus will allow us to serve customers more comprehensively and extend our reach,” Odhiambo noted.
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With the legal transaction now completed, both institutions will begin the transition process to ensure a seamless integration. In the interim, customers will continue to access services through their existing banking channels whether with NBK or Access Bank Kenya.
The immediate priority remains the alignment of operations, unification of teams, and harmonisation of product offerings as the banks move toward functioning as a single, consolidated entity.
