Access Bank finalizes Acquisition of NBK from KCB Group

Access Bank has officially finalized the acquisition of the National Bank of Kenya (NBK) from KCB Group, marking a strategic milestone in the Nigerian lender’s expansion into the Kenyan financial sector.

The acquisition received all necessary regulatory approvals and will see NBK become a wholly-owned subsidiary of Access Bank. Despite the acquisition, NBK and Access Bank Kenya will continue to operate independently while integration processes are underway.

KCB Group CEO Paul Russo described the transaction as a “significant milestone” in delivering value to shareholders, adding that the group will work closely with stakeholders to ensure customer confidence during the transition.

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Access Bank CEO Roosevelt Ogbonna welcomed the acquisition as a key step toward deepening the bank’s footprint in East Africa. “Kenya stands at the heart of regional commerce. With NBK now part of Access Bank, we are better positioned to deliver impactful banking solutions across the region,” he said.

NBK Managing Director George Odhiambo emphasized that the deal enables NBK to leverage Access Bank’s broad expertise in corporate, retail, and digital banking. He assured customers of continued access to services through existing banking channels during the transition period.