Prime

Nigerian lender to buy 70 pc stake in Kenya's Fina bank

Customers waiting in line at a Fina Bank Branch. Its profit grew 56pc in 2010. Nigeria's Guaranty Trust Bank (GT Bank) said on Thursday it had reached an agreement to acquire a 70 per cent stake in Kenya's Fina Bank Limited for $100 million. Photo/FILE

Nigeria's Guaranty Trust Bank (GT Bank) said on Thursday it had reached an agreement to acquire a 70 per cent stake in Kenya's Fina Bank Limited for $100 million.

Fina Bank has total assets of $338 million with operations in Kenya, Rwanda and Uganda, a GT Bank statement said, adding that its agreement to acquire the privately-held Kenyan bank is subject to regulatory approvals.

PAYE Tax Calculator

Note: The results are not exact but very close to the actual.

Get it First!

Stay up to date on the editors' picks of the week.

Latest

  1. PRIME CBK fines record 33 banks for loan rate breaches

  2. PRIME Fraud-linked QVSE owner returns with new scheme

  3. PRIME Average digital loan jumps to Sh16,341 as more Kenyans borrow for food, fees

  4. PRIME “Breathtaking”: Adventure across Greece in 10 days

In the headlines

View All