Access Bank Transfers Kenya Business, Assets, Liabilities to National Bank
- The Central Bank of Kenya approved the transfer of Access Bank Kenya's business, assets and liabilities to National Bank of Kenya
- Kenya's National Treasury gave its approval for the transaction on September 21, 2026, under Section 9(1) of the Banking Act
- The CBK said the deal is part of broader moves by Access Bank to reorganise its operations in the Kenyan market
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Legit.ng journalist Dave Ibemere has over a decade of experience in business journalism, with in-depth knowledge of the Nigerian economy, stocks, and general market trends.
The Central Bank of Kenya (CBK) has given the green light for the transfer of Access Bank (Kenya) Plc's business, assets and liabilities to National Bank of Kenya Limited (NBK).
The CBK said it first granted approval on August 17, 2026, under Section 13(4) of the Banking Act. Kenya's Cabinet Secretary for the National Treasury and Economic Planning followed with a separate approval on September 21, 2026, under Section 9(1) of the same Act.
Source: Getty Images
Transfer timeline and conditions
In a statement released on X on Thursday, September 24, CBK said the transfer will take effect once the transaction is completed in accordance with the terms of the Business and Assets Transfer Agreement signed between Access Bank Kenya and NBK.
The CBK said the deal is expected to reinforce the stability and resilience of Kenya's banking sector while encouraging greater competition among financial institutions.
The transaction comes as Access Bank PLC continues to restructure its presence in Kenya.
Access Bank's history in Kenya
Access Bank, the Nigerian banking group, first entered Kenya in February 2020 by acquiring 100% of the issued share capital of Transnational Bank Plc, an institution that had been operating since December 1985. The bank was subsequently rebranded as Access Bank (Kenya) Plc.
NBK, on the other hand, has a longer history in Kenya. 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.
DailyTrust reports that in May 2025, Access Bank PLC completed the acquisition of 100% of NBK's issued share capital from KCB Group Plc, making the latest transfer agreement a consolidation of entities already under the Access Bank umbrella.
Access Bank's African and global 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 across a wide range of African markets, including Botswana, Cameroon, the Democratic Republic of Congo, The Gambia, Ghana, Guinea, Mozambique, Nigeria, Rwanda, Sierra Leone, South Africa and Zambia.
Beyond Africa, the group maintains a subsidiary in the United Kingdom, representative offices in China, India and Lebanon, and a branch in the United Arab Emirates.
Access Bank takes over Standard Chartered Bank
Earlier, Legit.ng reported that Nigeria’s banking giant, Access Bank, has completed the takeover of Standard Chartered Bank in The Gambia.
Standard Chartered Bank cease to operate in The Gambia after 130 years of operations.
The governor of the Central Bank of The Gambia, Buah Saidy, disclosed this recently during a press conference at The Gambia’s apex bank’s headquarters in Banjul.
Saidy said that the process was smooth, very prudent and transparent, stating that Access Bank bought the 130-year-old financial institution.
Source: Legit.ng
