KCB Group targets completing the sale of National Bank of Kenya (NBK) to Access Bank by September 30 even as the lender says the increase in minimum capital requirements for banks in Nigeria has potentially placed the transaction on the back burner of the market regulator’s focus at the moment.
Through a circular to all commercial, merchant and non-interest banks dated March 28, the Central Bank of Nigeria (CBN) revised upward the minimum capital requirements for banks in the country including Access Bank, citing the need to enhance resilience and solvency in the banking sector amidst rising headwinds.
