Access Bank PLC has officially taken over full ownership of the National Bank of Kenya (NBK) after acquiring 100% of its shareholding from KCB Group PLC.
In a statement released on Monday, April 14, the Central Bank of Kenya (CBK) confirmed the acquisition, which follows regulatory approval granted on April 4, 2025. The deal was also given the green light by the Cabinet Secretary for the National Treasury and Economic Planning, John Mbadi, on April 10.
“The Central Bank of Kenya (CBK) announces the acquisition of 100 percent of the shareholding of National Bank of Kenya Limited (NBK) by Access Bank PLC from KCB Group PLC,” CBK said. The transaction was approved under Section 13(4) of the Banking Act, with Treasury approval under Section 9 of the same Act.
As part of the arrangement, CBK also approved the transfer of certain assets and liabilities from NBK to KCB Bank Kenya Limited, marking a strategic reshuffle in the local banking sector.
The acquisition will be finalized upon the completion of all terms outlined in the agreement between Access Bank and KCB Group.
NBK was originally founded in 1968 as a state-owned bank with a mission to help Kenyans gain access to credit and economic empowerment in the post-independence era. In 2019, KCB Group acquired full ownership of NBK, transforming it into a subsidiary and rebranding it as NBK Bancassurance Intermediary Limited.
This latest acquisition now positions Access Bank—already a major player in the African banking scene—as a more prominent force in Kenya’s financial landscape.
