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), following approval by the National Treasury.
In a statement on Wednesday, the regulator said the transaction follows its approval on August 17, 2026 under Section 13 (4) of the Banking Act and approval by the Cabinet Secretary for the National Treasury and Economic Planning on 21 September under Section 9 (1) of the same law.
The transfer will take effect once the parties complete the transaction in accordance with the terms of the Business and Assets Transfer Agreement.
Under the deal, NBK will take over the business, assets and liabilities of Access Bank Kenya.
CBK said it welcomed the transaction, saying it would support the stability of the banking sector.
“CBK welcomes this transaction as it will ensure continued stability and enhance resilience of the Kenyan banking sector and promote competition,” the regulator said.
NBK was incorporated in 1968 as a wholly owned government entity, with the objective of helping Kenyans access credit and supporting control of the economy after independence.
KCB Group Plc acquired 100% of NBK’s shareholding in September 2019 before Access Bank Plc acquired 100% of the issued share capital of NBK from KCB Group in May 2025.
Access Bank Plc entered the Kenyan market in February 2020 after acquiring 100% of the issued share capital of Transnational Bank Plc, which it renamed Access Bank (Kenya) Plc.
Transnational Bank began operations in December 1985.
Access Bank Plc, incorporated in February 1989, is a subsidiary of Access Holdings Plc and has operations in several African countries, including Nigeria, Ghana, Kenya, Rwanda, South Africa and Zambia.
The banking group also has a subsidiary in the United Kingdom, representative offices in China, India and Lebanon, and a branch in the United Arab Emirates.
CBK said the transaction is expected to promote competition while enhancing resilience within Kenya’s banking sector.