BoU clears CBA and NC Bank merger in Uganda; but who will head the new NCBA Bank?
Anthony Ndegwa CEO, CBA Uganda (left) and Sam Ntulume, Managing Director NC Bank Uganda
Bank of Uganda has cleared the merger of two out-of-Nairobi banks- NC Bank Uganda and Commercial Bank of Africa. The two as per 2019 results were the 19th and 21st largest banks by assets respectively and the merger will pave way for Uganda's 15th largest bank- out of 25 licensed banks.
The merged entity will also control well over UGX281 billion in lending and UGX370 billion in customer