The proposed merger between NIC #ticker:NIC and Commercial Bank of Africa (CBA) is likely to lead to higher profitability for the new entity due to staff and branch rationalisation while reducing funding costs, global rating agency Moody’s says, and in the process will strengthen Kenya’s financial sector.
An update from the firm’s investment service said the merged entity would also be able to inject capital into strategic growth and digital expansion more efficiently thanks to a strong capital base.
