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Dar owners in Sh1.3bn Oriental deal to change bank name

Customers at an Oriental Commercial Bank branch in Nairobi. PHOTO | FILE

Tanzanian investors under the M Holdings Group gunning for a maximum 51 per cent stake in Oriental Commercial Bank intend to change the lender’s name to M-Oriental.

In a notice for Oriental annual general meeting — expected to approve the deal — scheduled for June 25, the bank has valued the deal at Sh1.268 billion going by a share price of Sh30.

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