CBK(Central Bank of Kenya) has announced the transfer of all assets and liabilities of Access Bank Kenya(Plc) to National Bank of Kenya Limited(NBK). This follows approval by the CBK on August 17th 2026, under Section 13(4) of the Banking Act and the approval by the Cabinet Secretary, National Treasury and Economic Planning on September 21st 2026. This is in pursuant to Section 9(1) of the Banking Act.
CBK has approved the transaction
In a statement, CBK said the transfer shall take effect upon completion of the transaction in accordance with the terms and conditions of the Business and Assets Transfer Agreement between the parties.
NBK was incorporated in 1968 as a wholly owned Government of Kenya entity with the objective of assisting Kenyans access credit and control the economy after independence. In September 2019, KCB Group Plc acquired 100% shareholding of NBK. Subsequently, in May 2025, Access Bank Plc, a Nigerian lender, acquired 100% of the issued share capital of NBK from KCB Group.
Access Bank Plc(Nigeria) entered the Kenyan banking business in February 2020, after acquiring 100% of Transnational Bank and renamed it Access Bank Kenya. TransNational Bank commenced operations in 1985.
Access Bank Plc is one of the largest lenders in Nigeria, established in 1989 a wholly owned subsidiary of Access Holdings Plc. The lender already has subsidiaries in Botswana, Cameroon, DRC, Gambia, Ghana, Guinea, Kenya, Mozambique, Nigeria, Rwanda, Sierra Leone, South Africa and Zambia.
CBK seeks to promote competition
CBK said it welcomes this transaction as it will ensure continued stability and enhance resilience of the Kenyan banking business as well as promote competition.
Kenya’s banking sector has seen a string of acquisitions, with the entry of new players especially from West and South Africa, all keen a set up camp in Nairobi with eyes on the wider Eastern Africa region.
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