KCB Group (KCB.NR) plans to sell its affiliate, the National Bank of Kenya (NBK), to a Foreign lender.

According to the Daily Nation, the potential deal's value has not been disclosed, and the bank is expected to be sold to an undisclosed Nigerian lender.

PHOTO | COURTESY KCB 

In 2019, in a rescue agreement orchestrated by the central bank, KCB, East Africa's second-largest lender, purchased NBK, a medium-sized bank formerly owned by the state.

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When Reuters requested confirmation of the proposed transaction, KCB did not respond. There was no response from the central bank.