PROPOSED ACQUISITION OF NATIONAL BANK OF KENYA LIMITED BY ACCESS BANK PLC

Further to its announcement on March 20, 2024, Access Holdings Plc (‘the Company’) is pleased to announce that its subsidiary, Access Bank Plc (‘Access Bank’ or ‘the Bank’) has completed the acquisition of the entire issued share capital of National Bank of Kenya (‘NBK’ or ‘the Target’) from KCB Group Plc following the receipt of all requisite regulatory approvals in Kenya and Nigeria.

The acquisition is a significant step in Access Bank’s consolidation of its presence in Kenya and the larger East African markets.

Commenting on the development, Roosevelt Ogbonna, the Bank’s Managing Director/Chief Executive Officer, said:
'The completion of this transaction represents a significant step in our efforts to unlock the vast potential of East Africa's market. Kenya is a hub for regional commerce, and with NBK now part of the Access Bank family, we are well-positioned to leverage our combined strengths to provide high-impact banking solutions to our customers. NBK’s heritage and local expertise, combined with our pan-African network and innovation-led approach, will position us to connect African businesses to global markets, facilitating  economic growth and inclusive prosperity. 

With the completion of the acquisition, Access Bank will now move towards merging and integrating NBK with Access Bank Kenya to create one of the top banks in Kenya. The merger will reinforce the Bank’s position as a leading pan-African institution, enhancing its capacity to drive intra-African trade and serve customers across global markets.