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KCB Group proposes to take over National Bank of Kenya
June 12, 2017 / 8:18 AM / 3 months ago

KCB Group proposes to take over National Bank of Kenya

NAIROBI, June 12 (Reuters) - KCB Group, Kenya’s biggest lender by assets, has proposed to take over National Bank of Kenya through a share swap, to increase its share of the government’s banking business, documents seen by Reuters showed on Monday.

Both lenders share the same largest shareholders, the state and the state’s pension fund, and they have both traditionally vied for the government’s banking business, including deposits.

Reporting by Duncan Miriri, editing by Louise Heavens

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