Access Bank in “advanced stages” to finalise National Bank of Kenya acquisition
- Access Bank is in advanced stages of acquiring the National Bank of Kenya (NBK) from KCB Group.
- KCB Group CEO Paul Russo confirmed the acquisition is on track and included NBK’s performance in their 2024 results.
- Kenya’s Competition Authority approved the transaction with conditions regarding employee retention.
The acquisition of NBK by Access Bank represents a strategic move that could enhance Access Bank's competitive position in the Kenyan banking sector. However, the modest market share post-acquisition raises questions about the long-term impact on competition and profitability in a market dominated by larger banks.
