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Browsing: KCB launches BPR Bank Rwanda PLC
- KCB Group Plc has acquired Trust Merchant Bank SA (TMB) after receiving all the regulatory approvals
- The regional lender now owns 85% stake in the Democratic Republic of Congo (DRC) based lender
- The acquisition of TMB would positively contribute towards KCB’s increased scale of operations by establishing its presence in new markets
KCB Group Plc has acquired Trust Merchant Bank SA (TMB) after receiving all the regulatory approvals. The regional lender now owns 85% stake in the Democratic Republic of Congo (DRC) based lender.
KCB Group obtained the regulatory green light in Kenya, the Democratic Republic of Congo and COMESA Competition Commission, setting the stage for the Group to acquire the 85% of the shares in TMB.
Why KCB has acquired TMB
KCB Group CEO Paul Russo said the acquisition of TMB would positively contribute towards the group’s increased scale of operations by establishing its presence in new markets and …