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What you need to know about KCB and NBK merger

Kcb Nbk merger

The National Bank of Kenya (NBK) has been in rough financial straits in the last few years and it was just a matter of time before collapsing. Its takeover by Kenya’s biggest bank by asset base Kenya Commercial Bank (KCB) came as a respite. As at the time of writing this article, the deal was still under review by various stakeholders and authorities before ratification.

It is not the first time KCB was coming in to rescue a bank. In 2016, it took over as receiver manager of Chase Bank after the latter faced one of the worst bank-runs ever witnessed in Kenya in recent times. It ended its receivership role in August 2018 when Chase Bank was taken over by and rebranded to State Bank of Mauritius (SBM). It then took over the fraud ridden collapsed Imperial Bank.

Here is what you need to know about the KCB takeover of NBK should the current proposals be ratified by parliament, the Central Bank, the Competition Authority of Kenya, and the Capital Markets Authority:

Parliamentary committee investigates NBK takeover

National Assembly Finance and National Planning Committee began its review of the takeover bid on Wednesday 15 May, 2019. The main areas being investigated are:

The Committee will present its report within 60 days from today.

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