Access Bank completes National Bank of Kenya acquisition

Access Bank Plc has completed the acquisition of National Bank of Kenya Limited (NBK) from the KCB Group PLC (KCB Group).

A statement by the bank on Friday said the development marks the conclusion of a transaction that began in March 2024, adding that the receipt of all regulatory approvals customary for a transaction has also been concluded.

As a result, NBK, which KCB Group previously owned 100%, is now a wholly owned subsidiary of Access Bank Plc. NBK and Access Bank Kenya will continue to operate independently until all integration processes are completed.

The bank said the acquisition is a pivotal step in Access Bank’s expansion strategy in East Africa.