The Central Bank of Kenya (CBK) has approved the transfer of all assets and liabilities of Access Bank (Kenya) Plc to National Bank of Kenya (NBK). This decision follows the regulator's approval on August 17, 2026, under Section 13 (4) of the Banking Act. The National Treasury also gave its approval on September 21, 2026, under Section 9 (1) of the same law. The transfer is expected to take effect once the parties complete the transaction in accordance with the terms of the Business and Assets Transfer Agreement.
Under the deal, NBK will take over the business, assets, and liabilities of Access Bank Kenya. The CBK welcomed the transaction, stating that it would support the stability of the banking sector. The regulator believes that this move will ensure continued stability and enhance resilience within Kenya's banking sector, promoting competition. This development is seen as a positive step for the Kenyan banking industry.
The National Bank of Kenya was incorporated in 1968 as a wholly owned government entity. Its primary objective was to help Kenyans access credit and support the control of the economy after independence. Over the years, NBK has played a significant role in the country's banking sector. In September 2019, KCB Group Plc acquired 100% of NBK's shareholding.
However, the ownership of NBK changed again in May 2025 when Access Bank Plc acquired 100% of the issued share capital of NBK from KCB Group. Access Bank Plc entered the Kenyan market in February 2020 after acquiring 100% of the issued share capital of Transnational Bank Plc, which it renamed Access Bank (Kenya) Plc. Transnational Bank began operations in December 1985.
Access Bank Plc, incorporated in February 1989, is a subsidiary of Access Holdings Plc. The bank has operations in several African countries, including Nigeria, Ghana, Kenya, Rwanda, South Africa, and Zambia. The banking group also has a subsidiary in the United Kingdom, representative offices in China, India, and Lebanon, and a branch in the United Arab Emirates.
The CBK's approval of the transaction is expected to promote competition while enhancing resilience within Kenya's banking sector. This move is seen as a positive development for the sector, which has experienced various changes in recent years. The regulator's decision is expected to have a positive impact on the stability and growth of the banking industry.
The transfer of assets and liabilities from Access Bank Kenya to NBK is a significant development in the Kenyan banking sector. The CBK's approval of the transaction marks a major milestone in the process. The deal is expected to be completed once the parties finalize the transaction in accordance with the terms of the Business and Assets Transfer Agreement.
Key points
- The Central Bank of Kenya has approved the transfer of Access Bank Kenya assets and liabilities to National Bank of Kenya.
- The transaction is expected to promote competition and enhance resilience within Kenya's banking sector.
- The deal marks a significant development in the Kenyan banking sector, with NBK taking over the business, assets, and liabilities of Access Bank Kenya.
