Access Bank has announced its intentions to purchase the National Bank of Kenya from the KCB Group. This will be its second acquisition of a Kenyan bank in less than five years, following an unsuccessful attempt to acquire Sidian Bank in 2023.
KCB Group CEO Paul Russo has shared his positive outlook on the deal, stating that Access Bank will buy the entire stake, which he believes will be advantageous for NBK's future.
“We are beginning the necessary procedures to ensure the success of the transaction. Although it might take 6 to 9 months to complete, we are offering a clear direction for the institution and our workers,” Russo declared. READ MORE
