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.
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.