- CS John Mbadi has given the green light for the deal
- Access Bank now owns 100% of NBK shares
- KCB Group exits as NBK’s main shareholder
- NBK’s insurance subsidiary also part of the acquisition
- Deal to be discussed at next AGM
Access Bank’s full takeover of the National Bank of Kenya has been formally approved. This major move was made public in a gazette notice released on April 11, 2025.
The Central Bank of Kenya Governor, Dr. Kamau Thugge, confirmed the approval, adding that the transaction had also received the green light from Treasury CS John Mbadi.
Access Bank Takes Full Ownership
With this deal, Access Bank takes control of 100% of NBK’s shares. Kenya Commercial Bank (KCB), the former majority owner, has now fully exited from NBK.
This ends NBK’s long-running debt baggage under KCB and gives it a fresh start under new ownership.
Insurance Arm Included in Takeover
The acquisition also hands Access Bank control of NBK Bancassurance Intermediary Limited — the bank’s insurance services unit.
This gives Access Bank a broader financial footprint in the country.
Shareholders to Discuss Deal
According to the notice:
“Pursuant to the provisions of Section 9(5) of the Banking Act, the Board of Directors of KCB Group PLC approved the sale of 100% of NBK’s issued share capital to Access Bank PLC on March 20, 2024.”
The deal is set to be discussed during the next Annual General Meeting of shareholders.
All Approvals in Place
“On April 4, 2025, CBK approved the transaction under Section 13 (4) of the Banking Act,” the statement added.
“Later, on April 10, 2025, the Treasury CS also gave official consent under Section 9 (1) of the Act.”
The finalization of this deal is expected to shake up Kenya’s banking scene as Access Bank deepens its roots in the country.
