Powered by

AFRICAN BANKER'S WORLD NEWS

Jun 18, 2019 - African Banker
Board and Executive Moves

KCB MERGES WITH NATIONAL BANK OF KENYA

Kenya's biggest lender by assets, Kenya Commercial Bank (KCB) is set to merge with state-owned National Bank of Kenya (NBK) in a move which will create a combined $10bn balance sheet in three years.

KCB, which also operates in Uganda, Tanzania, Rwanda, Burundi and South Sudan, offered to buy NBK through a share swap of one KCB share for every 10 of NBK.

The lender said in the latest circular to shareholders that it expects the takeover dea...