KCB eyes mid-sized banks for acquisition

Kenya Commercial Bank (KCB) Group is looking at medium-sized lenders to buy as part of an expansion plan and is building up capital to boost its acquisition war chest, the chief executive of country’s biggest bank by assets said on Friday.

With 43 commercial banks, executives say, Kenya’s banking industry is ripe for consolidation that will create fewer bigger institutions able to write bigger loans for the growing economy.