Acquiring National Bank of Kenya is the action of Access Bank

According to Ekwochi, this will also act as a regional center for the East African bloc of Access Bank, which is supported by a strong balance sheet.According to Access Holdings Plc, National Bank of Kenya Ltd.'s whole issued share capital is being acquired by Access Bank Plc, a subsidiary of the company (NBK) Sunday This was stated in a notice submitted on Wednesday in Lagos to the Nigerian Exchange Ltd. (NGX) by Ekwochi, the bank's company secretary.According to Ekwochi, the bank and the Kenyan company KCB Group Plc (KCB) had reached a legally binding agreement for the bank to purchase NBK from KCB. According to him, NBK, the biggest commercial bank in Kenya, is held by KCB.According to him, the transaction is in furtherance of the bank’s African expansion strategy and will reposition it as a stronger and more significant player in the Kenyan market. Ekwochi said this would also serve as a regional hub for Access Bank’s East African bloc, anchored by a solidified balance sheet.