Regulator Approves Transfer of Access Bank Kenya Assets, Liabilities to NBK

The Central Bank of Kenya has approved the transfer of all assets and liabilities of Access Bank (Kenya) Plc to National Bank of Kenya Limited.

The CBK said the transfer followed its approval on August 17, 2026, under Section 13 (4) of the Banking Act, as well as the approval of the Cabinet Secretary for the National Treasury and Economic Planning on September 21, 2026, pursuant to Section 9 (1) of the Banking Act.

The central bank, in a statement issued on Wednesday, said the transfer would take effect upon completion of the transaction in accordance with the terms of the Business and Assets Transfer Agreement between the parties.

According to the statement, National Bank of Kenya was incorporated in 1968 as a wholly owned government entity with the objective of assisting Kenyans to access credit and control the economy after independence.

It said KCB Group Plc acquired 100 per cent shareholding of NBK in September 2019, while Access Bank PLC acquired 100 per cent of the issued share capital of NBK from KCB Group Plc in May 2025.

The CBK said Access Bank PLC (Nigeria) entered the Kenyan market in February 2020 after acquiring 100 per cent of the issued share capital of Transnational Bank Plc and renaming it Access Bank (Kenya) Plc.

It said, “Transnational Bank Plc commenced its operations in December 1985. Access Bank PLC was incorporated in February 1989 and is among the largest banking groups in Nigeria. It is a wholly owned subsidiary of Access Holdings PLC and has subsidiaries in various African countries.”

The statement added that Access Bank’s subsidiaries are located in Botswana, Cameroon, the Democratic Republic of Congo, The Gambia, Ghana, Guinea, Kenya, Mozambique, Nigeria, Rwanda, Sierra Leone, South Africa and Zambia.

“It also has a subsidiary in the United Kingdom and operates representative offices in China, India and Lebanon, and a branch in the United Arab Emirates.”

The CBK said it welcomed the transaction, adding that it would ensure continued stability and enhance the resilience of the Kenyan banking sector, saying, “CBK welcomes this transaction as it will ensure continued stability and enhance resilience of the Kenyan banking sector and promote competition.”