KCB Group Chief Executive Officer (CEO) Paul Russo has announced that its customers will,be able to get services at National Bank of Kenya (NBK) branches and vice versa starting February 2024.
Speaking on NTV, Russo said that because KCB acquired NBK in 2019, the lender seek to eliminate overlaps in their operations.
“January-February, KCB customers should be able to be served in an NBK branch and NBK customers in a KCB branch. That gives you an opportunity to optimize because you can then remove overlaps.”
“One would ask, why are you running two branches in Wajir, but you need a technology capability. That is the direction you want to take,” he said.
By exchanging 10 common shares of NBK for every 1 common share of KCB, the KCB Group offered in April 2019 to purchase all of NBK's ownership.
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With the merger's approval in September 2019, the Central Bank of Kenya (CBK) became Kenya's largest bank in terms of both assets and market share.
In addition to Kenya, regional offices of KCB can be found in Tanzania, Uganda, Rwanda, Ethiopia, Burundi, and South Sudan.
Additionally, it is the owner of non-banking entities, including KCB Foundation, KCB Capital, and KCB Bancassurance Intermediary.
