The Central Bank of Kenya (CBK) has announced the transfer of all business, assets and liabilities of Access Bank (Kenya) Plc to National Bank of Kenya Limited (NBK), following regulatory approvals by the banking sector regulator and the National Treasury.
CBK said it approved the transaction on August 17, 2026, under Section 13(4) of the Banking Act, while the Cabinet Secretary for the National Treasury and Economic Planning approved it on September 21, 2026, pursuant to Section 9(1) of the Banking Act.
The transfer will take effect once the transaction is completed in accordance with the terms of the Business and Assets Transfer Agreement between Access Bank (Kenya) and NBK.
NBK was incorporated in 1968 as a wholly owned Government entity, mandated to support Kenyans’ access to credit and contribute to the country’s economic development following independence.
In September 2019, KCB Group Plc acquired 100 per cent of NBK’s shareholding. Ownership later changed hands in May 2025, when Access Bank PLC acquired 100 per cent of NBK’s issued share capital from KCB Group.
Access Bank PLC entered the Kenyan market in February 2020 after acquiring Transnational Bank Plc, which had commenced operations in December 1985. The bank subsequently renamed the institution Access Bank (Kenya) Plc.
Access Bank PLC, incorporated in Nigeria in February 1989, is a subsidiary of Access Holdings PLC and operates across several African markets, including Kenya, Ghana, Nigeria, Rwanda, South Africa, Zambia and other countries. It also has operations in the United Kingdom, United Arab Emirates and representative offices in China, India and Lebanon.
CBK said the transaction is expected to support continued stability and strengthen resilience within Kenya’s banking sector while promoting competition.
The regulator’s announcement comes as Kenya’s banking industry continues to undergo consolidation, with transactions involving major financial institutions reshaping ownership structures and market competition.