The year saw Kenya’s banking sector record several mergers and acquisitions and more are predicted in the next two years as capital raising options diminish for smaller struggling lenders.
Nigeria’s largest retail lender, Access Bank Plc, acquired Kenya’s Transnational Bank associated with retired President Daniel arap Moi. The bank’s profits have been on a decline from Sh168 million in 2015 to a loss of Sh71 million last year.
