KCB has completed the sale of National Bank of Kenya Limited (NBK) to Access Bank Plc. This marks the conclusion of a transaction that began in March 2024.
The sale follows the receipt of all regulatory approvals customary for a transaction of this nature. As a result, NBK, where KCB Group had 100% ownership is now a wholly owned subsidiary of Access Bank. However, the two banks will continue to operate independently, pending the completion of all integration processes.
The acquisition is a pivotal step in Access Bank’s expansion strategy in East Africa. The combined entity will significantly enhance Access Bank’s presence in Kenya, strengthening the bank’s presence in the region. This move will allow Access Bank to offer an even more robust suite of banking services.
Roosevelt Ogbonna, Managing Director/Chief Executive Officer of Access Bank Plc, said, “Finalising this acquisition marks a significant step in our drive towards unlocking the vast potential of East Africa’s
financial landscape. Kenya stands at the heart of regional commerce, and with NBK now part of the Access Bank family, are better positioned to leverage our combined strengths to deliver high-impact banking solutions. NBK’s heritage and local expertise, combined with our pan-African network and innovation-led approach, will enable us to serve as a stronger catalyst for economic growth. Our ambition is clear: to be the bridge that connects African businesses to global markets, fuel intra-African trade, and drive inclusive prosperity.”
With the legal transaction now completed, both institutions will begin the transition process to ensure a seamless integration. In the interim, customers will continue to access services through their existing banking channels – whether with NBK or Access Bank Kenya.
The bank indicated that the immediate priority remains the alignment of operations, unification of teams, and harmonization of product offerings as the banks move toward functioning as a single, consolidated entity.