The Central Bank of Kenya (CBK) has approved the transfer of the business, assets and liabilities of Access Bank (Kenya) Plc to National Bank of Kenya Limited (NBK), in a transaction that will consolidate the two banking operations under NBK.
The regulator said the transfer was approved on August 17, 2026, under Section 13(4) of the Banking Act. The Cabinet Secretary for the National Treasury and Economic Planning subsequently approved the transaction on September 21, 2026.
According to CBK, the transfer will take effect once the parties complete the transaction in accordance with the terms of their Business and Assets Transfer Agreement.
The development comes about 16 months after Access Bank PLC acquired 100 percent of NBK from KCB Group in May 2025. Access Bank had earlier entered the Kenyan market in February 2020 through the acquisition of Transnational Bank, which was subsequently renamed Access Bank (Kenya) Plc.
The latest transaction means Access Bank’s Kenyan banking business will be transferred to NBK, bringing the operations under a single banking entity.
CBK said it welcomes the transaction, noting that it is expected to support continued stability and enhance resilience in Kenya’s banking sector while promoting competition.
The transfer also comes amid increased capital requirements in Kenya’s banking industry. Business Daily reported that Access Bank Kenya had core capital of Sh892 million at the end of June 2026, compared with a regulatory minimum of Sh3 billion. NBK, meanwhile, had core capital of Sh12.01 billion during the same period.
The transaction therefore provides a mechanism for combining the operations and capital positions of the two entities, subject to completion of the agreed transfer process.
CBK has not indicated that the transfer is already complete; it will become effective after the transaction is completed in accordance with the agreement.
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