Commercial Bank of Africa’s (CBA) announcement that it had opened talks with rival NIC Group #ticker:NIC for a possible merger, if successful, will create the third-largest lender by assets, making it the biggest re-arrangement of Kenya’s banking landscape in a decade.
The new entity will have Sh444.3 billion in total assets, based on September disclosures, overtaking Co-operative Bank #ticker:COOP, which will be relegated to the fourth position.
