KCB to finalise purchase of Congo lender by year end
KCB Group Plc Chairman Andrew Wambari Kairu and Oliver Meisenberg, the Chief Executive Officer Trust Merchant Bank (TMB) exchanging documents on August 2, 2022 during a ceremony where KCB signed a definitive agreement to acquire a majority stake at TMB.
KCB Group expects to finalise the acquisition of Democratic Republic of Congo lender Trust Merchant Bank (TMB) by the end of the year after receiving shareholder approval for the transaction.
The tier-one lender said the shareholders’ nod at an Extra Ordinary General Meeting (EGM) held in Nairobi on Wednesday will see it accelerate the acquisition, which it first revealed last month.
