December 7, 2018 / 7:55 AM / 4 days ago

Kenya's finance minister welcomes NIC Bank and Commercial Bank of Africa merger talks

NAIROBI, Dec 7 (Reuters) - Kenya’s Finance Minister Henry Rotich said on Friday that he welcomed merger talks between NIC Bank and Commercial Bank of Africa as it would help strenghten the financial sector.

The two Kenyan commercial lenders announced on Thursday that they would hold talks on a potential merger which would be the first major deal since the government capped commercial lending rates in 2016. (Reporting by George Obulutsa Writing by Duncan Miriri Editing by Raissa Kasolowsky)

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