NAIROBI, Sept 23 – The Central Bank of Kenya (CBK) has approved the transfer of all assets and liabilities of Access Bank Kenya Plc to National Bank of Kenya (NBK), clearing a key regulatory step in Access Bank Plc’s consolidation of its Kenyan banking operations.
The approval follows Access Holdings’ acquisition of 100% of NBK from KCB Group in May 2025, for estimated consideration of about $109.6 million. The transaction gave the Nigerian banking group control of a substantially larger banking platform than its existing Kenyan subsidiary.
As of June 2026, NBK had approximately KSh157 billion ($1.21 billion) in assets, KSh116 billion ($895.55 million) in customer deposits and KSh61 billion ($470.93 million) in net loans. Access Bank Kenya, by comparison, had around KSh14 billion in assets, KSh10 billion in deposits and KSh2.3 billion in net loans.
A straightforward combination of the two balance sheets would create an institution with more than KSh170 billion ($1.31 billion) in assets before consolidation adjustments, with NBK accounting for more than 90% of the enlarged balance sheet.
The difference in financial scale is also reflected in the two banks’ earnings. NBK reported KSh1.72 billion in profit after tax for the first half of 2026, representing a 61% increase from a year earlier. Access Bank Kenya remained loss-making, although its loss narrowed to approximately KSh200 million, from KSh556 million previously.
Access Bank Kenya also reported core capital of about KSh893 million at the end of June, below the KSh3 billion minimum referenced in its financial statements. The bank indicated that the proposed combination with NBK was expected to address the capital shortfall.
Regulatory Approvals Advance
CBK approved the transfer on August 17, 2026, while Kenya’s National Treasury granted its approval on September 21. The transaction will become effective following completion of the Business and Assets Transfer Agreement between the two institutions.
Operational integration had already begun before the latest regulatory approvals. Since September 2025, customers of Access Bank Kenya and NBK have been able to access a combined network of more than 100 branches for selected services.
The transaction therefore consolidates Access Bank’s Kenyan operations around NBK, whose larger balance sheet, deposit base and branch network provide the principal platform for the combined business.
NBK’s Changing Ownership
The transaction marks another change in ownership for NBK, which has undergone two ownership changes within seven years. KCB Group acquired the formerly state-controlled bank in 2019, before selling it to Access Bank in 2025 as the Nigerian banking group expanded its presence in East Africa.
For Access Bank, the transfer brings its Kenyan operations under a substantially larger banking entity and further consolidates its regional footprint through NBK.
