The Central Bank of Kenya has announced that the entire assets and liabilities of Access Bank (Kenya) Plc will be transferred to National Bank of Kenya Limited. This move is part of a business combination of the two entities, approved by the Central Bank of Kenya on August 17, 2026, under Section 13 (4) of the Banking Act. The approval also received the nod of the Cabinet Secretary for the National Treasury and Economic Planning on September 21, 2026.
The transfer is expected to take effect upon the completion of the transaction in accordance with the terms of the Business and Assets Transfer Agreement between the parties. According to the Central Bank of Kenya, this transaction will ensure continued stability and enhance resilience of the Kenyan banking sector, promoting competition. The deal is also expected to advance Access Bank's African expansion strategy, positioning it as a stronger player in the Kenyan market.
In March 2024, Access Holdings, the parent company of Access Bank (Kenya), announced a binding agreement with KCB Group Plc to acquire all the issued share capital of National Bank of Kenya. The deal would help Access Holdings reposition itself as a major player in the Kenyan market and serve as a regional hub for its East African bloc. At the time, the balance sheet of the National Bank of Kenya 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. National Bank of Kenya, a wholly owned government entity, was incorporated in 1968 to provide Kenyans with access to credit and control the economy after independence. The bank has undergone several changes in ownership, with KCB Group purchasing a 100 per cent shareholding 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.
The Central Bank of Kenya has welcomed the transaction, citing its potential to promote stability and competition in the Kenyan banking sector. The deal is part of Access Bank's broader push to build scale and position itself as "Africa's Gateway to the World." The transaction is expected to have a positive impact on the Kenyan economy.
The National Bank of Kenya will now be part of Access Bank's expanded operations in Kenya and East Africa. With this development, Access Bank is set to strengthen its presence in the region, providing a wider range of financial services to its customers. The bank's management is expected to provide further details on the transaction and its implications for the Kenyan banking sector.
Key points
- The Central Bank of Kenya has approved the transfer of Access Bank Kenya's assets and liabilities to National Bank of Kenya.
- The transaction is expected to promote stability and competition in the Kenyan banking sector.
- The deal will help Access Bank advance its African expansion strategy, positioning it as a stronger player in the Kenyan market.
