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Browsing: Competition Authority of Kenya(CAK)
Majority of the deals are tier 1 banks going for struggling tier 2 and 3 lenders
Kenya’s banking sector is on an evolution path evidenced by the high number of mergers and acquisitions being witnessed; a trend the government is hoping will realign and strengthen the sector.
The most recent is last week’s offer by the country’s largest bank by asset-KCB, which has made a move to acquire a hundred per cent (100%) of the ordinary shares in National Bank of Kenya (NBK).
This is the sixth deal in the last nine months (between August 2018 and April this year) with a total 13 banking merger and acquisitions in the last six years.
Majority of the deals are tier 1 lenders going for smaller struggling banks in tier 2 and tier 3, in the market which has a total of 42 commercial banks and one mortgage finance institution-Housing Finance.
KCB, …
