The Central Bank of Kenya (CBK) has approved the transfer of all assets and liabilities of Access Bank (Kenya) Plc to National Bank of Kenya Limited (NBK), in another step towards consolidating the two banking operations. In a press release on Wednesday, 23rd September 2026, CBK announced that it approved the transaction on 17th August 2026 under section 13(4) of the Banking Act; the transaction then received the Cabinet Secretary for the National Treasury and Economic Planning’s approval on 21st September 2026 under section 9(1) of the Banking Act. However, CBK noted that the transfer has yet to take effect as it will only commence once the parties complete the transaction in accordance with their Business and Assets Transfer Agreement.
“The transfer shall take effect upon completion of the transaction in accordance with the terms of the Business and Assets Transfer Agreement between the parties,” CBK stated.
Access Bank Plc bought 100 per cent of NBK’s issued share capital from KCB Group in May 2025 after obtaining the requisite approvals from the regulators. NBK was initially a wholly-owned government entity formed in 1968. It was acquired by KCB Group in September 2019 before being sold to Access Bank six years later. Access Bank entered the Kenyan market in February 2020 when it acquired 100 per cent of Transnational Bank Plc’s shares before renaming itself Access Bank (Kenya) Plc. Transnational Bank started operating in December 1985.
Since Access Bank’s acquisition of NBK, the two banks have operated separately, with both stating that they would continue to do so until the integration process was completed. At the time of the announcement, NBK stated that the two entities would continue to operate independently until the integration process was completed. Upon the announcement of the transaction, the central bank said it welcomed the deal as it would bode well for the banking sector.
“CBK welcomes this transaction as it will ensure continued stability and enhance resilience of the Kenyan banking sector and promote competition,” the regulator said.
As far as customers are concerned, the news of the day is the approval of the transaction, as the transfer of Access Bank Kenya’s assets and liabilities has yet to occur. The physical transfer of Access Bank Kenya’s assets and liabilities will only occur once the parties complete the terms in the agreements. The transaction will place the two Kenyan banks under one umbrella company, subject to the completion of the terms. In the meantime, the two entities will continue operating under their respective agreements.