How KCB Bank Is Set To Surprise The Kenyan Banking Sector

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KCB Group is set to surprise the Kenyan banking sector by announcing the sale of its subsidiary, National Bank of Kenya (NBK), to a yet unnamed Nigerian lender. This comes just five years after KCB acquired NBK in a government-backed rescue deal.

The details of the sale, including the final price tag, remain undisclosed. However, KCB is expected to formally announce the transaction during their financial results release todayThe deal needs approval from the Central Bank of Kenya (CBK) before proceeding.- BUSINESS DAILY

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