Access Bank Group will pay USD 109.6 million (KSh 14.2 billion) to acquire the National Bank of Kenya (NBK), according to its half-year financial filings, though the finalization of the deal remains pending a last regulatory step.
- •The financial statements for the period ended 30 June 2025 confirm the valuation and reveal that a guarantee of USD 89.5 million (KSh 11.6 billion) has been issued by the African Export-Import Bank (Afreximbank) to secure the seller, KCB Group, while the transaction is completed.
- •Despite the parties announcing the acquisition's completion on 30 May 2025, Access Bank stated that a final, unconditional regulatory clearance was still outstanding as of the reporting date.
- •This has prevented the transfer of operational control and the consolidation of NBK’s financial results into Access Bank’s accounts.
The completion documents for the acquisition were signed in May after receiving the necessary approvals from regulators in Kenya and Nigeria. The current delay pertains to the fulfillment of the final closing condition, for which no revised timeline has been provided.
As a result, NBK continues to operate as a separate entity from Access Bank Kenya. Full integration will proceed only after the final regulatory condition is satisfied, formalizing Access Bank's strategic expansion into the East African market.
