The Central Bank of Kenya and the National Treasury have granted approval for the merger of NIC Group PLC and Commercial Bank of Africa Limited (CBA), paving way for the creation of Kenya’s 3rd largest bank by assets. The new merged Group will be called NCBA Group PLC and the Kenya operating bank will be known as NCBA Bank Kenya PLC. The approval was published in the Kenya Gazette of Friday, 27th September 2019 and the union took effect on Monday, 30th September 2019. “This name is the coming together of NIC and CBA and is just the beginning of…
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