KCB enters DRC by acquiring a local bank

KCB CEO Paul Russo. [Boniface Okendo, Standard]

KCB has made entry into the Democratic Republic (DRC) ending many years of search for an entry point into the lucrative market.

This is after it acquired DRC-based lender Trust Merchant Bank (TMB), in a deal that will see it expand its asset base to Sh1.26 trillion, just Sh10 billion shy of Equity Bank's Sh1.27 trillion by end of March.