KCB Group moves to acquire DRC-based lender Trust Merchant Bank
KCB Group PLC Chairman Andrew Wambari Kairu (Front Left, )and Oliver Meisenberg, (Front Right) the Chief Executive Officer at Trust Merchant Bank (TMB) sign documents earlier today during a ceremony where KCB signed a definitive agreement to acquire a majority stake at TMB. TMB is a commercial bank based in the Democratic Republic of Congo (DRC). (Back Left to Right) - TMB Deputy CEO, Alexandre Mandeiro, KCB Group CEO Paul Russo, KCB Group CFO, Lawrence Kimathi, and TMB Shareholder Christian Kabila. The acquisition is aligned with the Group’s bid to scale its regional presence and access to the East African community's new members.
KCB Group Plc has entered into a definitive agreement with shareholders of Trust Merchant Bank (TMB) to acquire a majority stake in the Democratic Republic of Congo (DRC)-based lender.
The transaction is expected to close by the end of the third quarter of 2022, subject to regulatory, shareholders and other approvals. This will see KCB acquire 85% of the shares in TMB while the existing shareho
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