TechCabal’s Post

Access Holdings, the parent company of Access bank, will pay $109.6 million (₦179.1billion) to acquire National Bank of Kenya (NBK) from KCB Bank Group, according to its financial statements for Q2, 2025. The takeover, announced in March 2024, was completed in May; however, the Nigerian lender’s latest financial statements indicate that it has yet to remit the payment for the acquisition. The $109 million deal aligns with TechCabal’s earlier estimated valuation of around $100 million for the company, which is 1.25 times NBK’s book value of $79.77 million as of 2023. The group aims to increase its footprint in East Africa’s largest economy, where it already owns Access Bank Kenya. With NBK’s national reach and government-linked client base, the acquisition gives Access a ready-made network and a chance to gain relevance in East Africa’s competitive banking market, where it reported a loss of $1.47 million in H1 2025. 🔗 Click the link below for full details  👉 https://lnkd.in/dbWNGygS