CBK Orders Transfer of Access Bank Kenya to National Bank
Nume Ekeghe Central Bank of Kenya (CBK) has approved the transfer of the business, assets, and liabilities of Access Bank (Kenya) Plc to National Bank of Kenya Limited (NBK), in
The Central Bank of Kenya (CBK) has authorized the transfer of Access Bank (Kenya) Plc to National Bank of Kenya Limited (NBK), marking a significant shift in the Nigerian lender’s operations in Kenya. This decision, approved on August 17, 2026, under Section 13(4) of the Banking Act, and backed by Cabinet Secretary for the National Treasury and Economic Planning on September 21, 2026, under Section 9(1) of the Act, will become effective once the transaction is finalized per the terms of the Business and Assets Transfer Agreement between the two parties.
The move comes amid a series of regulatory actions aimed at promoting local participation and stability in African banking systems. Notably, the Central Bank of The Gambia (CBG) recently directed commercial banks, including subsidiaries of Nigerian lenders like Access Bank, to commence the phased replacement of non-Gambian employees with qualified Gambian nationals. This development underscores a broader trend of African regulators strengthening local operations within the banking sector to ensure market stability.
Established as a wholly owned government entity in 1968, NBK played a crucial role in expanding credit access and supporting Kenya’s economic development post-independence. KCB Group Plc acquired NBK entirely in September 2019, and Access Bank later acquired NBK’s entire issued share capital from KCB Group in May 2025. Access Bank entered the Kenyan market in February 2020 after acquiring Transnational Bank Plc in 2020, which was renamed Access Bank (Kenya) Plc.
The CBK’s approval of this transfer is viewed positively, with the regulator welcoming the move as a means to bolster the stability, resilience, and competitiveness of Kenya’s banking sector. Access Bank maintains banking subsidiaries across several African nations, including but not limited to The Gambia, Ghana, Nigeria, and South Africa, and has a presence in the UK, China, India, Lebanon, and the UAE. Despite the regulatory decision, a spokesperson for Access Bank was unavailable for comment at the time of reporting.
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