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Access Bank Set to Acquire National Bank of Kenya

4/15/2025

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Summary

Story summary

Access Bank of Nigeria has received approval from Kenya's Central Bank and Treasury to acquire the National Bank of Kenya (NBK).
The acquisition is pending final approval from Nigerian regulators.
NBK, despite its extensive branch network, faces challenges with high loan defaults, reporting 18.6% non-performing loans in 2024.
This acquisition could enhance Access Bank's footprint in East Africa and align with its five-year growth strategy.

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Story summary

Access Bank of Nigeria has received approval from Kenya's Central Bank and Treasury to acquire the National Bank of Kenya (NBK).
The acquisition is pending final approval from Nigerian regulators.
NBK, despite its extensive branch network, faces challenges with high loan defaults, reporting 18.6% non-performing loans in 2024.
This acquisition could enhance Access Bank's footprint in East Africa and align with its five-year growth strategy.