Access Holdings Completes N179bn Deal To Buy Another Bank
- Access Holdings Plc, the parent company of Access Bank, has completed the acquisition of the National Bank of Kenya
- A major deal that will strengthen Access Bank’s footprint in East Africa and position the group for expansion in East Africa
- Access Holdings aims to build a leading pan-African banking franchise for easy cross-border transactions
Legit.ng journalist Dave Ibemere has over a decade of experience in business journalism, with in-depth knowledge of the Nigerian economy, stocks, and general market trends.
Access Holdings Plc, the parent company of Access Bank, has confirmed that it has completed the acquisition of the National Bank of Kenya (NBK)
In its 2025 half-year financial statement published on NGX, Access Holdings revealed that the deal was valued at approximately N179.1 billion (US$109.6 million).
Source: Getty Images
Access Bank deal with NBK was first announced in May 2025 and was completed on May 30, 2025, following conditional approvals from both Nigerian and Kenyan regulators.
Access Holdings said in its financial statement:
“As part of the completion process, the Group received the completion documents from the Seller (KCB Group) on 30 May 2025 for a total estimated consideration of USD109.6 million (N179.1 billion).”
Access Bank to take over Kenya Bank
However, Access Holdings clarified that the full transfer of control of NBK had not yet been completed as of June 30, 2025, due to certain regulatory conditions still pending, the Sun reports.
Once all is done, the acquisition will officially bring NBK under the Access Bank network.
The company stated:.
“As at 30 June 2025, these conditions had not been fulfilled, and control of NBK had not yet transferred to the Group. Consequently, the financial results of National Bank of Kenya have not been consolidated in these financial statements.”
Source: Getty Images
More details about Access Bank deal
Access Holdings described the acquisition of NBK as a strategic pillar of its regional growth agenda aimed at strengthening its footprint in East Africa.
Kenya is a leading financial hub in the East Africa region, presenting significant opportunities for scaling corporate, retail, and digital banking operations.
It noted:
“This transaction underscores our commitment to building a strong pan-African banking franchise.
“By integrating NBK’s local expertise with Access Bank’s international reach, we aim to create a more innovative and efficient banking ecosystem in Kenya.”
The acquisition also aligns with Access Holdings’ long-term ambition to position itself as Africa’s gateway to the world, leveraging its cross-border network, technology, and partnerships to enhance financial inclusion and boost intra-African trade.
Here are other footprints of Access Bank
- Access Bank Sierra Leone
- Access Bank Rwanda
- Access Bank United Kingdom
- Access Bank Ghana
- Access Bank Tanzania
- Access Bank Congo
- Access Bank Gambia
- Access Bank Zambia
- Access Bank Kenya
- Access Bank Mozambique
- Access Bank Botswana
- Access Bank Guinea
- Access Bank Nigeria
- Access Golf
- Access Bank Angola
Zenith Bank to acquire Kenyan Bank
In a related development, Legit.ng reported that Nigeria’s Zenith Bank is also eyeing the Kenyan market.
Talks is already on the way for a tier2 bank in Kenya and will be Zenith Bank’s first foray into the growing Kenyan market and outside West Africa.
Zenith Bank will join Access Bank, Guaranty Trust Bank, and United Bank for Africa (UBA) in the Kenyan market.
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Source: Legit.ng
