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In yet another solid step towards its 5-year growth and expansion strategy to become the “World’s Most Respected African Bank”, Access Bank Plc has announced that it has signed a binding agreement to acquire 100 per cent of KCB Group Plc’s shareholding in the National Bank of Kenya Limited. This is the second acquisition by Access Bank Plc in Kenya, after the 2019 purchase of Transnational Bank Limited. In a joint statement, Access and KCB Group said that the “successful completion of the transaction is subject to conditions that are customary for transactions of this nature including receipt of all…
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KCB Bank on 14th October, marked its 15th anniversary since it set foot in Uganda in 2007, with a firm promise to close the year with at least a UGX1 trillion balance sheet. Speaking at the anniversary celebrations, held at Kampala Serena Hotel, KCB Bank Uganda Managing Director, Edgar Byamah, revealed the bank was just about UGX38 billion shy of the UGX1 trillion (USD261 million) rubicon. “At present, our bank boasts of an asset base of over UGX961.43 billion and over 40,000 customers, which success is greatly attributed to a committed team that has keenly served the bank over…
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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 shareholders will continue to hold the balance for a period of not less than 2 years after which, KCB will acquire their shares. KCB will pay a cash consideration for the shares determined based on…
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