× Digital News Videos Opinion Special Reports Lifestyle Central Coast Eastern Nairobi North Eastern Nyanza Rift Valley Western Business News Stocks Financial Standard Africa Asia America Europe Weird News Editorial Commentary Letters Crazy World Features Entertainment Money & Careers Health & Science Sci & Tech Home & Away Generation Next Cartoon Education Pointblank Environment Travel & Destination Columns Kipkoech Tanui uReport Kiambu Murang'a Nyandarua Kirinyaga Nyeri Baringo Bomet Elgeyo Kajiado Kericho Laikipia Nakuru Nandi Narok Samburu Trans Nzoia Turkana Mombasa Kwale Kilifi Tanariver Taita Taveta Kakamega Vihiga Bungoma Busia Siaya Kisumu Homabay Migori Kisii Nyamira Nairobi Uasin Gishu West Pokot Sunday Magazine The Hague Trial Kenya @ 50 Education and Training Health and Environment Insurance and Financial Security Housing Current Affairs Humour Makau Mutua David Oginde Clay Muganda Comand Your Morning Mohamed Wehliye Wednesday Life Alexander Chagema Arts & Culture Kamotho Waiganjo Barrack Muluka Xn Iraki Urban Rights - By Steve Ouma Branding Voice KCB Fredrick Ogola Sunday Magazine Wanja Kavengi Njoki Kaigai David Oginde Ken Opalo Daisy Maritim Houghton Irungu Hustle News Group Stages Round of 16 Quarter Finals Semi Finals Finals Third Place play-offs Opinion Dr Pesa Podcasts Round Table Sepetuko Eve Woman Ramadhan Special Fact Check Correction Explainers The Standard Insider Blog E-Paper Lifestyle & Entertainment Nairobian Entertainment Eve Woman Travelog TV Stations KTN Home KTN News BTV KTN Farmers TV Radio Stations Radio Maisha Spice FM Vybez Radio Enterprise VAS E-Learning Digger Classified The Standard Group Corporate Contact Us Rate Card Vacancies DCX O.M Portal Corporate Email RMS

KCB eyes mid-sized banks for acquisition

By Reuters | March 21st 2016 at 12:00:00 GMT +0300

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.

“We will look for businesses where there can be synergy, where there can be ability for us to scale up, so medium-sized banks will be areas that we are focusing on today,” KCB CEO Joshua Oigara told Reuters in an interview.

KCB planned to sign up a transaction adviser to raise the bank’s capital before the end of this month, he said, although he did not say how much the bank was seeking. 

Kenya Commercial Bank Joshua Oigara acquisition
Share this story

Read More