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NAIROBI, KENYA: Kenya’s biggest lender by assets KCB Group has offered to buy 100 per cent of National Bank of Kenya through a share swap consisting of one KCB share for every 10 of National, KCB said in a letter to National Bank on Thursday.
The offer marks the second major deal among lenders since the government capped commercial lending rates in 2016. CBA Group, a privately held bank, is in process of merging with NIC Bank in in a deal which has been approved by shareholders of both parties.
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