CBA, NIC confirm merger plan as unified banks to list on NSE
An NIC Bank branch on Kenyatta Avenue in Nairobi. NIC and CBA have confirmed their merger plan whose completion will see the unified banks listed on the Kenya bourse. FILE PHOTO | NMG
Commercial Bank of Africa (CBA) and NIC Group have confirmed their merger plan whose completion will see the unified banks listed on the Nairobi Securities Exchange (NSE).
CBA shareholders will be issued with shares amounting to a 53 per cent stake in the merged institutions, effectively making the deal a reverse takeover of NIC.
