On Friday, May 30, 2025, Access Bank Plc officially completed the acquisition of National Bank of Kenya Limited (NBK) from KCB Group Plc, concluding a strategic transaction that began in March 2024. This milestone was marked by a formal signing ceremony in Nairobi, attended by key executives including Seyi Kumapayi, Executive Director of African Subsidiaries at Access Bank, and Lawrence Kimathi, Director of Finance at KCB Group.
According to an official statement released by Access Bank, the deal was finalized following the receipt of all required regulatory approvals, reinforcing Access Bank’s commitment to expanding its presence in the East African financial sector. With this acquisition, NBK transitions from being a wholly-owned subsidiary of KCB Group to becoming a fully owned subsidiary of Access Bank Plc.
While the legal transfer is complete, both NBK and Access Bank Kenya will continue to operate independently during an interim period, allowing for a thorough integration process to unfold.
Access Bank’s Managing Director and CEO, Roosevelt Ogbonna, expressed optimism about the acquisition’s potential impact. “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, we are better positioned to leverage our combined strengths to deliver high-impact banking solutions to individuals, businesses, and government institutions alike,” he said.
Ogbonna further highlighted the synergy between NBK’s local expertise and Access Bank’s pan-African network, stating, “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.” He reiterated the bank’s ambition “to be the bridge that connects African businesses to global markets, fuel intra-African trade, and drive inclusive prosperity.”
Paul Russo, CEO of KCB Group, described the transaction as a “key milestone” that enhances shareholder value. He assured stakeholders that KCB Group will work closely with Access Bank to ensure a smooth operational handover, including system transfers and governance alignment in compliance with regulatory standards.
Similarly, NBK’s Managing Director, George Odhiambo, welcomed the acquisition, emphasizing NBK’s longstanding role in serving Kenya’s public sector. “Access Bank’s expertise across corporate, retail, and digital banking, coupled with its strong public sector focus, will allow NBK to serve customers more comprehensively and expand its reach,” Odhiambo noted.
During the transition phase, customers of both banks will continue to access services through their existing channels without disruption.
