NCBA Group unveils new logo and tagline as it commences operations

KENYA – NCBA Group, a bank that was formed from the merger of NIC Group PLC (NIC) and Commercial Bank of Africa Limited (CBA) Group has unveiled a new logo and tagline (Go for it) as it officially commences operations as the country’s third largest bank by assets, reports KBC. The Central Bank of Kenya and the National Treasury granted approval for the merger via a Kenya Gazette notice of Friday, 27th September 2019. The approval paved the way for the two organisations to officially start operations as NCBA Group…

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NIC Group and CBA limited merge to become NCBA Group PLC

KENYA – The Central Bank of Kenya and the National Treasury have granted approval for the merger of NIC Group PLC (NIC) and Commercial Bank of Africa Limited (CBA). The amalgamation takes effect on, 30th September 2019. The new merged Group will be called NCBA Group PLC and the Kenya operating bank will be known as NCBA Bank Kenya PLC. Isaac Awuondo, CBA’s Group Managing Director and Chairman designate of NCBA Bank Kenya PLC thanked all the regulators for granting the necessary approvals expeditiously and for the guidance received during…

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Shareholders approve Commercial Bank of Africa merger with NIC Group

KENYA – The merger between Commercial Bank of Africa (CBA) with NIC Group is set to see completion after the majority of its shareholders approved the share swap deal that was proposed in January. According to a report by Business Daily, CBA directors revealed that at least 29 out of 34 shareholders with 98.15% stake of the issued and fully paid up share capital had accepted the deal. “As a result of the share exchange transaction, it is proposed that NIC Group will acquire sole control of CBA and its…

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