KCB, Access Bank Plc complete National Bank of Kenya sale

In March 2024, Access Bank Plc and KCB Group Plc signed a binding agreement to acquire 100% shareholding in NBK from KCB. The acquisition marked a significant step in the economic advancement, encouraging African trade and optimising financial inclusion. 

As a result, NBK, where KCB Group had full ownership, is now a subsidiary of Access Bank Plc. While all integration procedures are being completed, NBK and Access Bank Kenya will continue to operate independently. 

Officials from KCB Group stated that the firm will work with Access Bank to ensure an optimal handover and operational transition, while collaborating on customary transaction closure processes. Moreover, they will finalise the transfer of systems and governance functions in line with regulatory guidelines and service level commitments.  

The acquisition is an important step in Access Bank’s expansion strategy in East Africa. This move allows the bank to offer various banking services, catering to the evolving needs of individuals and businesses across Kenya.  

With the legal transaction now completed, both institutions will begin the transition process to ensure an optimal integration. During this interval, customers will continue to access services through their existing banking channels, whether with NBK or Access Bank Kenya. The immediate priority remains the alignment of operations, unification of teams, and optimising product offerings as the banks move toward functioning as a single, consolidated entity.   

Latest updates from KCB Group

In March 2025, KCB Group announced its acquisition of a majority stake in Riverbank Solutions Limited, aiming to accelerate its digital footprint and MSMEs customer value proposition. Following this announcement, the deal was expected to expand the Group’s digital capabilities by incorporating Riverbank’s overall footprint in banking agency, social payments, and its suite of business solutions.