Access Bank Kenya’s assets and debts to move to National Bank of Kenya

The Central Bank of Kenya has announced that all assets and debts of Access Bank (Kenya) Plc will be transferred to National Bank of Kenya Limited. This is part of a business deal between the two banks.

In a statement on Wednesday, seen by PREMIUM TIMES, the Central Bank of Kenya said it approved this deal on 17 August 2026. This approval was also supported by the Cabinet Secretary for the National Treasury and Economic Planning on 21 September 2026.

The statement said, “The transfer shall take effect upon the completion of the transaction in accordance with the terms of the Business and Assets Transfer Agreement between the parties.”

The Central Bank of Kenya added, “CBK welcomes this transaction as it will ensure continued stability and enhance resilience of the Kenyan banking sector and promote competition.”

In March 2024, Access Holdings, which is based in Lagos, announced its commercial banking subsidiary had signed a deal with KCB Group Plc. This deal is to acquire all the shares of National Bank of Kenya.

Access Holdings mentioned that this acquisition will support its strategy for growth in Africa. This move will help Access Bank become a major player in the Kenyan market and a regional hub for East Africa.

At that time, the balance sheet of National Bank of Kenya was $1.1 billion. Access Bank completed the purchase of all the shares of this lender from KCB Group Plc in May 2025.

National Bank of Kenya is fully owned by the government. It was set up in 1968 to provide credit access for Kenyans and manage the economy after independence. KCB Group took full ownership of National Bank of Kenya in 2019.

Access Bank Plc from Nigeria entered the Kenyan market in February 2020 after fully acquiring Transnational Bank Plc. It was renamed Access Bank (Kenya) Plc. Transnational Bank started its operations in December 1985.

This business combination aims to create a larger bank with a stronger position in Kenya and East Africa. This is part of a bigger plan to grow and make Access Bank “Africa’s Gateway to the World.”