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KCB Group offers to take over National Bank of Kenya

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.

Kenya's banking industry is undergoing consolidation after the closure of two mid-sized lenders and a third smaller one, in the months to April 2016, exposed weaknesses caused by corporate governance lapses.

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