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Equity Group’s acquisition of Congo’s Banqué Commerciale du Congo will help it grow its balance sheet to Sh1 trillion (USD9 billion) by the end of 2020 and diversify into a regional bank, chief executive James Mwangi said.
The deal between Equity’s operation in the Democratic Republic of Congo and BCDC was completed in August and has accelerated the bank’s goal of having 40 per cent of its balance sheet outside of Kenya, Mwangi said.
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