CBK Approves Transfer of Access Bank Kenya's Assets to National Bank of Kenya
By Aboki Forex —
The Central Bank of Kenya (CBK) has approved the transfer of Access Bank (Kenya) Plc's business, assets and liabilities to National Bank of Kenya Limited (NBK). The CBK said it granted the first approval on August 17, 2026, under Section 13(4) of the Banking Act.
Kenya's Cabinet Secretary for the National Treasury and Economic Planning gave a separate approval on September 21, 2026, under Section 9(1) of the same Act. In a statement released on X on Thursday, September 24, the CBK said the transfer will take effect once the transaction is completed in line with the terms of the Business and Assets Transfer Agreement signed between Access Bank Kenya and NBK.
What the CBK said
The regulator said the deal is part of broader moves by Access Bank to reorganise its operations in the Kenyan market. It added that the transaction is expected to reinforce the stability and resilience of Kenya's banking sector while encouraging greater competition among financial institutions.
Two entities already under one roof
The transfer consolidates entities that are already under the Access Bank umbrella. In May 2025, Access Bank PLC completed the acquisition of 100% of NBK's issued share capital from KCB Group Plc.
Access Bank entered Kenya in February 2020 by acquiring 100% of the issued share capital of Transnational Bank Plc, an institution that had operated since December 1985. It was later rebranded as Access Bank (Kenya) Plc.
NBK has a longer history. It was incorporated in 1968 as a wholly government-owned institution, set up to help Kenyans access credit and drive economic development in the post-independence era. KCB Group Plc took full ownership of NBK in September 2019.
Access Bank's wider footprint
Access Bank PLC was incorporated in February 1989 and operates as a wholly owned subsidiary of Access Holdings PLC. The group runs banking operations in Botswana, Cameroon, the Democratic Republic of Congo, The Gambia, Ghana, Guinea, Mozambique, Nigeria, Rwanda, Sierra Leone, South Africa and Zambia.
Beyond Africa, it maintains a subsidiary in the United Kingdom, representative offices in China, India and Lebanon, and a branch in the United Arab Emirates.
Earlier, Access Bank completed the takeover of Standard Chartered Bank in The Gambia, ending the latter's 130 years of operations there. The Governor of the Central Bank of The Gambia, Buah Saidy, disclosed this at a press conference in Banjul, describing the process as smooth, very prudent and transparent.