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Cytonn Investments sees more consolidations in banking sector

PHOTO:COURTESY

Investment management firm Cytonn projects the banking sector to continue with consolidation as smaller and weaker banks struggle to remain afloat.

In its banking sector report titled “Consolidation and Resilience in a Challenging Operating Environment,” the firm says the low valuations on most of the banks has made them easy prey for their counterparts with stronger financial muscles.

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