Access Bank has revealed plans to acquire the National Bank of Kenya from the KCB Group. This marks its second acquisition of a Kenyan bank under five years after a move to acquire Sidian Bank fell through in 2023.
Paul Russo, CEO of KCB Group, expressed optimism about the deal, stating that Access Bank will purchase the entire stake, which he views as beneficial for NBK’s future. Related News Access Bank to acquire National Bank of Kenya Access Holdings gains 1.52% as Aig-Imoukhuede emerges chairman Aig-Imoukhede returns as Access Holdings chairman
“We are commencing the necessary steps to ensure the success of the transaction. While it may take 6 to 9 months to finalize, we are providing a clear path forward for the institution and our employees,” Russo announced. READ MORE
