NewStats: 3,265,450 , 8,186,775 topics. Date: Sunday, 15 June 2025 at 03:06 AM 214t42

Access Bank PLC, a subsidiary of Nigeria’s Access Holdings PLC, has secured approvals from the Central Bank of Kenya (CBK) and Kenya’s National Treasury and Economic Planning for the acquisition of 100% shareholding of the National Bank of Kenya (NBK).

Access Bank is acquiring NBK through the purchase of NBK shares from KCB Group PLC, which had held full ownership of the bank since 2019.

According to a statement issued by the CBK on Monday, April 14, 2025, the apex bank granted its approval for the transaction on April 4, 2025, under Section 13(4) of the Banking Act, while the Cabinet Secretary for the National Treasury and Economic Planning gave additional approval on April 10, 2025, pursuant to Section 9 of the same Act.

Assets transfer
As part of the acquisition process, certain assets and liabilities of NBK will be transferred to KCB Bank Kenya Limited, a wholly owned subsidiary of KCB Group. Both the CBK and the Cabinet Secretary have approved this transfer.

The acquisition and transfer of NBK assets and liabilities will take effect upon the full completion of the transaction, in line with the agreement between Access Bank and KCB Group.

Access Bank PLC, which now owns NBK in full, is part of Access Holdings PLC, a financial conglomerate headquartered in Nigeria. The group has aggressively expanded its footprint across Africa and beyond in recent years.

The bank now operates in over a dozen African countries, including Kenya, Ghana, Rwanda, Mozambique, Zambia, and South Africa, and maintains a presence in the UK, UAE, and representative offices in China, Lebanon, and India.

With the acquisition of NBK, Access Bank strengthens its position in Kenya’s competitive banking landscape, adding to its operations in the country and reinforcing its East African expansion strategy.

Transaction to enhance sector stability
The Central Bank of Kenya has welcomed the acquisition, citing its potential to enhance the resilience and stability of the Kenyan banking sector.

The regulator emphasized that the transaction aligns with its broader mandate to sound financial sector development while protecting the interests of depositors and investors.

CBK’s endorsement suggests confidence in Access Bank’s capacity to maintain continuity of services at NBK and leverage the bank’s infrastructure and customer base to further develop digital and financial services in Kenya.

What you should know
Founded in 1968, the National Bank of Kenya was initially created as a fully government-owned institution aimed at providing credit access to Kenyans and promoting indigenous economic control in the post-independence era.

In September 2019, NBK was acquired by KCB Group, which has since operated it as a subsidiary, alongside other financial services businesses like NBK Bancassurance Intermediary Limited. Access Bank and KCB Group had signed a binding agreement to acquire 100% shareholding in National Bank of Kenya Limited in March 2024.

Source: https://nairametrics.com/2025/04/14/access-bank-secures-final-approvals-to-acquire-national-bank-of-kenya/

Congratulations to Access Bank.

Our biggest challenge in this country is lack of unity that has resulted in leadership failure.

If we ever get our leadership right, Nigeria would be competing with China, India and America. These are countries that have the population capacity to match ours.

Okay good

Alright...they've been on it for a while.

Congratulation to them.

Good move.. Keep flying the naija flag high

The same Access bank which is not among the top 10 banks in Africa is acquiring another country's National Bank.

O boy, small nyansh too dey shake o!

Nigerian banks going global and entrenching the global dominance of Nigeria in the scheme of things.
Congratulations to Access bank.

Recently, I read that no Nigerian bank is included in the top ten in Africa.

I bet to differ and also believe that the requirements was only based on what's on paper.

Now let's talk about Nigerian banks.

It is evidently clear that Nigerian bank launder money for military, civilians, business men, government contractors, drug dealers and oil cartels because no laundering would be possible without the partnership of a bank in Nigeria.

When you consider the percentage/cut by Nigerian bank to get this process done.

Then you would realize that Nigerian banks are making so much money which couldn't be put on paper.

A vivid example was when EFCC uncovered some Diezani stolen funds which was kept $105 million in one of the bank head office in Lagos but it was never on record to avoid traces.

Look at all the acquired banks by the Access Bank, it wasn't for free and it was 100% paid for, so where does the money came from?

Add those funds used to acquire those bank from 10-12 countries and add it to the asset of Access Bank in Nigeria and tell me how much billions it would be.

In Nigeria it is evidently clear that we don't do full disclosure and I'm not surprised that Access Bank does not do full disclosure in order to avoid scrutiny.

So, Respect to Nigerian banks and kudos to them for staying under the radar.

If we add illegal money to the asset of banks, i ro believe nothing less than 5 Nigerian banks would make top 10 in Africa.

Let's kuku say "Kenya for sale"

We don they acquire banks in other countries? Kenya for that matter? First time in Nigerian history. Happy to know its happening under Tinubu, a sign of greater things to come. Tinubus second term is assured. A man who can make Nigeria the real African giant. Nigeria must be great again.

😲that is a bold decision

ImpartialGuy:


Source: https://nairametrics.com/2025/04/14/access-bank-secures-final-approvals-to-acquire-national-bank-of-kenya/

Dog eats dog

Access bank reputation in Nigeria is not so good.

They are supposed to tidy themselves in Good Business Ethics before going overseas.

Many depositors loose money monthly or yearly from the nefarious activities of Access bank staff.

Access Bank should not go and destroy the Mpesa of Kenya people.

Access Bank is famous for its hidden and unnecessary charges

Hemanwel:
The same Access bank which is not among the top 10 banks in Africa is acquiring another country's National Bank.

O boy, small nyansh too dey shake o!

The journey must start somewhere even if the destination is far!
Let us encourage our own.

They keep acquiring other banks for the pennies. Cheap skates .

NEIGHBOUR:


The journey must start somewhere even if the destination is far!
Let us encourage our own.

Neighbor neighbor

Even with the acquisition left, right and center of Africa, their dividend remains shameful .

Their peers like GT, Zenith and UBA are declaring dividends above N3 to N4 per share. Shameless Access are still declaring N1. or 30k.

Shame on the greedy management.

Stealing from us to acquire in their names.

What!

ImpartialGuy:
Congratulations to Access Bank.

Our biggest challenge in this country is lack of unity that has resulted in leadership failure.

If we ever get our leadership right, Nigeria would be competing with China, India and America. These are countries that have the population capacity to match ours.

Exactly, in fact any trade or business deals to be carried out by countries from Europe, Americas, Asians and the middle East on countries in the African continent will need express approval from Nigeria based on how large and over reaching Nigeria will be economically.

I hope so too but don't think it'd possible, not because of the presence of our northern brothers but solely because of their "mindset". You can't have majority of Muslims with those kind of retrogressive mindset and develop as a nation.
The educational gap between the North and the South is dangerously wide.

ImpartialGuy:
Congratulations to Access Bank.

Our biggest challenge in this country is lack of unity that has resulted in leadership failure.

If we ever get our leadership right, Nigeria would be competing with China, India and America. These are countries that have the population capacity to match ours.

Wow

Dem don carry their criminality go kenya

BodePolScience:
Let's kuku say "Kenya for sale"

abi o. Wetin come remain?

Kai.... Congrats to them

Wish I own an Access Bank shares..

ImpartialGuy:


Source: https://nairametrics.com/2025/04/14/access-bank-secures-final-approvals-to-acquire-national-bank-of-kenya/

no wonder this bank keep debiting me 150 Naira for electronic Levi!
So there are stealing for us to acquire banks

That's wonderful, Congratulations Access Bank PLC. My own glory must shine too

Access bank on steroids. Btw not having Access bank shares on your portfolio is a miss.

Hemanwel:
The same Access bank which is not among the top 10 banks in Africa is acquiring another country's National Bank.

O boy, small nyansh too dey shake o!

Access Bank? Small bank? Change your dealer bruf.