In a bold move to strengthen its pan-African presence, Access Holdings Plc, the parent company of Access Bank, has completed the acquisition of the National Bank of Kenya (NBK) in a landmark deal worth ₦179 billion.
The acquisition marks another major milestone in Access Bank’s regional expansion strategy, positioning it as one of the most dominant financial institutions across Africa.
According to a statement from the bank, the transaction aligns with Access Holdings’ vision to become “the world’s most respected African bank,” enhancing its capacity to serve customers across East Africa and deepen intra-African trade.
With this deal, Access Bank is set to leverage NBK’s existing network and customer base in Kenya to deliver innovative financial solutions, while boosting its influence in one of Africa’s fastest-growing economies.
Industry analysts have hailed the acquisition as a “game-changer” for the East African banking sector, noting that it could spur new competition and integration within the region’s financial markets.
Further details on integration plans and operational changes are expected in the coming weeks.