Access Bank PLC has officially acquired National Bank of Kenya (NBK) from KCB Group PLC, bringing to a close a transaction that began in March 2024.
The acquisition, which received all necessary regulatory approvals, marks a significant milestone in Access Bank’s strategy to expand its footprint across East Africa.
Until the sale, KCB Group owned 100% of NBK. With the conclusion of the deal, NBK becomes a wholly owned subsidiary of Access Bank PLC, one of Africa’s leading banking institutions.
For now, both NBK and Access Bank Kenya will continue operating separately, as integration efforts unfold.
KCB Group CEO Paul Russo said the sale marks a new chapter for KCB and reflects its strategy to unlock shareholder value.
“We are confident the sale will unlock new opportunities for all stakeholders,” he stated, assuring a smooth operational transition and regulatory compliance during the integration.
On the other side, Access Bank CEO Roosevelt Ogbonna hailed the acquisition as a pivotal moment for the bank’s ambitions in the region.
“With NBK now part of the Access family, we’re better positioned to deliver high-impact banking solutions across East Africa,” he noted.
NBK CEO George Odhiambo welcomed the move, describing it as an exciting opportunity to extend the bank’s reach while building on its legacy in public sector banking.
