CBK: Approves Access Bank Kenya NBK Business Transfer

• The Central Bank of Kenya has approved the transfer of Access Bank Kenya's business, assets, and liabilities to the National Bank of Kenya.
• This approval follows Access Bank PLC's 100% acquisition of NBK in April 2025 and subsequent merger approvals in August and September 2026.
• The transfer will become effective once the terms of the Business and Assets Transfer Agreement are fully completed.
• National Bank of Kenya, incorporated in 1968, was previously owned by KCB Group before its sale to Access Bank.
• Access Bank entered the Kenyan market in 2020 by acquiring and renaming Transnational Bank, which began operations in 1985.

The Central Bank of Kenya has officially sanctioned the transfer of all business operations, assets, and liabilities belonging to Access Bank Kenya to the National Bank of Kenya.

The Central Bank of Kenya (CBK) has officially sanctioned the transfer of all business operations, assets, and liabilities belonging to Access Bank Kenya to the National Bank of Kenya (NBK). This pivotal decision marks a significant step following Access Bank PLC's complete acquisition of NBK, which was finalized last year. The regulatory body confirmed that this transfer will become effective once all conditions stipulated in the Business and Assets Transfer Agreement between the involved parties are fully met. This move is a key development in the ongoing restructuring within the Kenyan banking sector, ensuring a smooth transition of the Access Bank Kenya assets transfer.

This approval from the CBK underscores the conclusion of a multi-stage process that began with the initial acquisition. The transfer is not merely a formality but a crucial regulatory step that ensures the stability and continuity of services for customers previously served by Access Bank Kenya. It reflects the CBK's commitment to overseeing significant changes within the financial landscape, particularly those involving the consolidation of banking entities. The finalization of this transfer agreement is anticipated to streamline operations and integrate the acquired business fully into NBK's existing framework.

The recent approval by the Central Bank of Kenya for the transfer of Access Bank Kenya's operations to NBK is the culmination of several regulatory milestones. The CBK had previously granted its approval for the underlying merger on August 17, 2026. This specific approval was issued in compliance with Section 13(4) of the Banking Act, a critical piece of legislation governing banking mergers and acquisitions in Kenya. Further reinforcing the legality of the transaction, the Cabinet Secretary for the National Treasury and Economic Planning also provided their assent on September 21, acting under the authority granted by Section 9(1) of the same Act.

These approvals are distinct from the initial acquisition of NBK itself. Access Bank PLC had completed its 100 percent acquisition of the National Bank of Kenya in April 2025, after successfully navigating all necessary regulatory requirements. The current CBK bank merger approval for the asset and liability transfer is a subsequent, yet equally vital, step to fully integrate the acquired entity and consolidate its operations under the NBK umbrella. This layered approval process highlights the stringent regulatory oversight characteristic of the Kenya financial sector consolidation efforts.

The National Bank of Kenya, which will now absorb Access Bank Kenya's operations, boasts a long history in the country's financial landscape, having been incorporated in 1968. Its ownership has seen significant shifts in recent years, with KCB Group fully acquiring NBK in 2019 before subsequently selling it to Access Bank. This trajectory illustrates a broader trend of consolidation and strategic realignments within the Kenyan banking industry. The National Bank of Kenya acquisition by Access Bank PLC in 2025 was a major event, setting the stage for the current asset transfer.

Access Bank's presence in the Kenyan market is relatively more recent, having commenced its operations in 2020. Its entry was facilitated by the acquisition of 100 percent of Transnational Bank, an institution that had been active since 1985. Following this acquisition, Transnational Bank was rebranded and began operating as Access Bank Kenya. The current transfer of Access Bank Kenya's business to NBK, therefore, represents a further evolution of Access Bank's strategy within the region, aiming to optimize its operational structure and market footprint amidst the ongoing Kenya financial sector consolidation.

Source: Reporting based on original coverage from Capital FM.