Access Bank Kenya’s assets, liabilities to be transferred to National Bank of Kenya

The Central Bank of Kenya has announced the transfer of the entire assets and liabilities of Access Bank (Kenya) Plc to National Bank of Kenya Limited as part of a business combination of the two entities.

In a statement issued on Wednesday and seen by PREMIUM TIMES, the Central Bank of Kenya noted that it approved the deal on 17 August 2026 under Section 13 (4) of the Banking Act, which also received the nod of the Cabinet Secretary for the National Treasury and Economic Planning on 21 September 2026, pursuant to Section 9 (1) of the Banking Act.

“The transfer shall take effect upon the completion of the transaction in accordance with the terms of the Business and Assets Transfer Agreement between the parties,” the statement noted.

“CBK welcomes this transaction as it will ensure continued stability and enhance resilience of the Kenyan banking sector and promote competition,” it added.

In March 2024, Lagos-based Access Holdings, the parent company of Access Bank (Kenya), announced that its commercial banking subsidiary had entered into a binding agreement with Kenya-based KCB Group Plc to acquire all the issued share capital of National Bank of Kenya.

Access Holdings said at the time that the deal would help advance its African expansion strategy by repositioning it as a stronger, major player in the Kenyan market and serving as a regional hub for its East African bloc.

The balance sheet of the National Bank of Kenya at the time stood at $1.1 billion. Access Bank completed the acquisition of 100 per cent of the issued share capital of the lender from KCB Group Plc in May 2025.

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National Bank of Kenya, a wholly owned government entity, was incorporated in 1968 to provide Kenyans with access to credit and to control the economy after independence. KCB Group purchased a 100 per cent shareholding in National Bank of Kenya in 2019.

Access Bank Plc (Nigeria) expanded into Kenya in February 2020, following its full acquisition of Transnational Bank Plc, which it renamed Access Bank (Kenya) Plc. Transnational Bank began operations in December 1985.

The business combination will produce an enlarged franchise with a stronger footing in the Kenyan and East African markets as part of a broader push to build scale and position Access Bank as “Africa’s Gateway to the World.”