The acquisition was finalized following the receipt of all necessary regulatory approvals, as confirmed by Access Bank's statement on Friday, May 30, 2025. This move solidifies Access Bank's commitment to deepening its footprint in the region.
NBK Now a Wholly-Owned Subsidiary
With the conclusion of the deal, NBK, which was previously 100% owned by KCB Group, has transitioned to become a wholly-owned subsidiary of Access Bank Plc. While the legal transfer is complete, both NBK and Access Bank Kenya will maintain independent operations for an interim period. This strategic approach allows for a comprehensive integration process to unfold smoothly, ensuring continuity for customers and stakeholders.
Vision for Growth and Connectivity
Roosevelt Ogbonna, the Managing Director/Chief Executive Officer of Access Bank Plc, expressed considerable enthusiasm regarding the successful completion of the acquisition. He highlighted the strategic importance of this move for the bank's future.
"Finalising this acquisition marks a significant step in our drive towards unlocking the vast potential of East Africa’s financial landscape," Ogbonna stated. He emphasized Kenya's pivotal role in regional commerce, noting that "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."
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| L-R: The Executive Director, African Subsidiaries, Access Bank Plc, Seyi Kumapayi, and Director of Finance, KCB Group, Lawrence Kimathi, during the signing ceremony to mark the completion of the sale of National Bank of Kenya to Access Bank Plc in Nairobi on Friday, May 30, 2025. | Credit: Access Bank Plc |
Ogbonna further articulated the synergy between the two entities, 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 Access Bank’s broader ambition "to be the bridge that connects African businesses to global markets, fuel intra-African trade, and drive inclusive prosperity."
Smooth Transition Assured
Paul Russo, Chief Executive Officer of KCB Group, affirmed that the transaction represents a key milestone in creating and delivering value for their shareholders. He assured that KCB Group would work closely with Access Bank to facilitate a seamless handover and operational transition. This includes the finalization of system transfers and governance functions, all in strict adherence to regulatory guidelines.
Similarly, George Odhiambo, the Managing Director of NBK, welcomed the integration. He underscored NBK’s long-standing legacy of serving Kenya’s public sector. Odhiambo expressed confidence that Access Bank’s expertise across corporate, retail, and digital banking, coupled with its strong public sector focus, will empower NBK to serve customers more comprehensively and expand its reach.
During this transition period, customers of both banks are advised that they will continue to access services through their existing banking channels with either NBK or Access Bank Kenya, ensuring minimal disruption.