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CBA in merger talks with rival NIC Bank

CBA - Comercial Bank Of Africa taken on 10th September 2016. [PHOTO:WILBERFORCE OKWIRI/STANDARD]

The Commercial Bank of Africa (CBA) which is associated with the Kenyatta family has started talks that will see it merge with NIC Group in what promises to be the corporate buyout of the year.

In a joint statement late yesterday, the two lenders said that upon the successful conclusion of the discussions and approvals from shareholders of the two entities and regulatory authorities, the merger would create one of the largest financial services group in the region.

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