Kenyattas, Ndegwas create 3rd largest bank in merger

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Kenyattas, Ndegwas create 3rd largest bank in merger

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Mr Muhoho Kenyatta, director, CBA Group (left) and Mr James Ndegwa, director, NIC Group. PHOTOS | FILE 

Kenyattas, Ndegwas create 3rd largest bank in merger

Commercial Bank of Africa’s (CBA) announcement that it had opened talks with rival NIC Group for a possible merger, if successful, will create the third-largest lender by assets, making it the biggest re-arrangement of Kenya’s banking landscape in a decade.

The new entity will have Sh444.3 billion in total assets, based on September disclosures, overtaking Co-operative Bank , which will be relegated to the fourth position.

The new bank will rank third after KCB and Equity , whose assets were valued at Sh684.1 billion and Sh560.3 billion respectively in the same period.

 

Kenyattas, Ndegwas create 3rd largest bank in merger Reviewed by on December 7, 2018 .

Share thisFacebookTwitterPinterestEmailWhatsAppMr Muhoho Kenyatta, director, CBA Group (left) and Mr James Ndegwa, director, NIC Group. PHOTOS | FILE  Kenyattas, Ndegwas create 3rd largest bank in merger Commercial Bank of Africa’s (CBA) announcement that it had opened talks with rival NIC Group for a possible merger, if successful, will create the third-largest lender by assets, making

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