KCB sells its loss-making National Bank as profit dips

The National Bank of Kenya is a subsidiary of KCB Group. [File, Courtesy]

Kenya's largest lender by asset size KCB Group will sell its loss-making subsidiary National Bank of Kenya (NBK) to Nigeria's largest lender Access Bank.

The deal, whose financial value was not made public by the two lenders by press time, yesterday, will see Access Bank buy 100 per cent of the troubled NBK subject to regulatory approval.