Access Bank’s Kenyan operations are set for consolidation under National Bank of Kenya (NBK) after the Central Bank of Kenya (CBK) approved the transfer of all assets and liabilities of Access Bank (Kenya) Plc to NBK.
CBK approved the transaction on 17 August 2026 under Section 13(4) of the Banking Act, while Kenya’s Cabinet Secretary for the National Treasury and Economic Planning granted the final approval on 21 September under Section 9(1) of the Act.
“The transfer shall take effect upon completion of the transaction in accordance with the terms of the Business and Assets Transfer Agreement between the parties,” CBK said in a statement on Wednesday.
The regulator said the consolidation would support the stability and resilience of Kenya’s banking sector while promoting competition.
Access Bank Consolidates Kenya Operations
The transaction brings together Access Bank’s two Kenyan banking operations under NBK, following the Nigerian lender’s acquisition of the two institutions at different stages of its expansion into the East African market.
Access Bank entered Kenya in February 2020 after acquiring 100% of Transnational Bank Plc, which was subsequently renamed Access Bank (Kenya) Plc.
Five years later, in May 2025, Access Bank acquired 100% of NBK from KCB Group Plc, giving the Nigerian banking group two separately operated banking businesses in Kenya.
The latest transaction effectively consolidates those operations under NBK, creating a single legal banking entity for Access Bank in Kenya.
The restructuring is also expected to simplify Access Bank’s Kenyan operations and address capital requirements associated with maintaining separate banking entities.
