The boards of NIC and CBA approve commencement of merger talks
NIC Bank and the Commercial Bank of Africa could be set for a merger following the approval for commencement of discussions on the same by the boards of the two banks. If it sees the light of day, the merger will bring forth an entity with assets worth 444 billion shillings, displacing Co-operative bank as the third largest bank by asset size. This development comes on the back of a rise in acquisition activity in the banking space with SBM Bank having acquired Chase and Fidelity banks in
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