Browsing: National Bank of Rwanda (BNR)

KCB Group Shareholders Approve Proposed Trust Merchant Bank SA (TMB) Acquisition www.theexchange.africa

KCB Group shareholders approve Trust Merchant Bank SA acquisition

Banking

The National Bank of Rwanda (BNR), Rwanda’s banking watchdog, gave KCB regulatory approval in March to merge the operations there, resulting in a more significant stake thanks to the infusion of KCB Rwanda’s assets into the combined entity.

Through the transaction, KCB expanded its retail banking presence in Rwanda.

Before the merger, BPR held a 10.2 per cent market share, which, coupled with KCB Rwanda’s six per cent stake, allowed it to surpass Equity Bank Rwanda, which was in second place with 11 per cent of the market.…