Access Bank Kenya’s operations are entering a new phase after the Central Bank of Kenya (CBK) approved the transfer of its business, assets, and liabilities to National Bank of Kenya (NBK).

The regulator’s decision follows a series of approvals required to complete the transaction, which involves bringing the banking operations under NBK.

CBK approved the merger on August 17, 2026, under Section 13(4) of the Banking Act. The Cabinet Secretary for the National Treasury and Economic Planning subsequently approved on September 21 under Section 9(1).

However, the transfer is not immediately effective. CBK explained that the parties must first complete the transaction in line 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,” the regulator said.

The development follows Access Bank PLC’s acquisition of NBK after the transaction received CBK approval in April 2025. The acquisition gave Access Bank full ownership of the Kenyan lender, which had previously been controlled by KCB Group.

NBK’s journey through different owners

National Bank of Kenya began operations in 1968 and has experienced significant changes in ownership throughout its history.

In 2019, KCB Group acquired the bank in a transaction that placed NBK under the ownership of one of Kenya’s largest banking groups. Access Bank later purchased the institution, marking another shift in the lender’s corporate structure.

Access Bank’s presence in Kenya dates back to 2020, when it acquired Transnational Bank. The bank, which had started operations in 1985, was subsequently renamed Access Bank Kenya.

The latest approval concerns the transfer of Access Bank Kenya’s business, assets and liabilities to NBK. It therefore represents a further step in implementing the arrangements between the two institutions following the acquisition.

The regulator has not indicated the precise date when the transfer will be completed. That will depend on the fulfilment of the conditions set out in the agreement between the parties.

For customers and other stakeholders, the completion of the transaction will be the next significant stage in determining how the two banking operations will be organised. CBK’s announcement, however, did not provide details on any changes to customer accounts, branches or banking services.

The approval highlights the regulatory procedures involved when financial institutions undergo mergers, acquisitions or transfers of business in Kenya. Such transactions require the necessary clearances before they can be implemented.