Access Bank Kenya to Be Absorbed by National Bank After CBK Approval

National Bank of Kenya (NBK) is set to absorb Access Bank Kenya after the transaction received approval from the Central Bank of Kenya (CBK) and the National Treasury.

The CBK announced that all assets and liabilities of Access Bank (Kenya) Plc will be transferred to National Bank of Kenya Limited, bringing an end to Access Bank Kenya’s separate operations in the local market.

According to the regulator, the transaction received CBK approval on August 17, 2026, under the Banking Act. The Cabinet Secretary for the National Treasury and Economic Planning subsequently approved the transfer on September 21.

The transfer will take effect after completion of the transaction in line with the Business and Assets Transfer Agreement signed between Access Bank Kenya and NBK.

The move will bring together two banks that are already under the ownership of Nigeria-based Access Bank Plc. Access Bank acquired NBK from KCB Group in May 2025, following its earlier entry into the Kenyan market through the acquisition of Transnational Bank in 2020.

Transnational Bank was later rebranded as Access Bank Kenya, giving Access Bank two separate banking operations in the country.

The latest transaction will consolidate those operations under NBK, effectively ending Access Bank Kenya’s five-year run as an independent lender.

The CBK said it welcomed the transaction, noting that it would support stability and resilience in Kenya’s banking sector while promoting competition.

The consolidation also comes as banks face increased regulatory capital requirements. Access Bank Kenya has been reported to have a capital shortfall of about Sh2.11 billion, which the merger will help address.

For customers, the transaction is expected to bring the operations and assets of Access Bank Kenya under the NBK structure once the transfer is completed.

The deal marks another significant development in Kenya’s banking sector, which has experienced increased consolidation in recent years as financial institutions seek stronger capital positions, wider market reach and operational efficiencies.

NBK was established in 1968 as a fully government-owned bank before being acquired by KCB Group in 2019. Access Bank Plc later bought the entire issued share capital of NBK from KCB Group in May 2025.

Access Bank Plc, through its parent company Access Holdings, has continued expanding its presence across African financial markets.

The transfer of Access Bank Kenya’s assets and liabilities to NBK will therefore create a single banking operation for the group in Kenya.

The transaction remains subject to completion in accordance with the agreed terms between the two institutions. Once completed, customers and other stakeholders will operate within the consolidated NBK structure.

The CBK has said the transaction is expected to strengthen the resilience of the banking sector while maintaining competition in the Kenyan market.