The planned merger between Kenya’s biggest lender by assets, KCB Group, #ticker:KCB and the State-owned National Bank of Kenya (NBK) #ticker:NBK is set to create a giant bank whose combined balance sheet is expected to hit Sh1 trillion in three years.
KCB, which also operates in Uganda, Tanzania, Rwanda, Burundi and South Sudan, last month offered to buy NBK through a share swap of one KCB share for every 10 of NBK.
