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The Standard e-Paper
Truth Without Fear
The tier-one lender said profit after tax rose to Sh6 billion in the three months to March 31, up from Sh5.5 billion a year earlier.
NCBA Group has posted a Sh23.4 billion profit as it moves closer to acquisition by Nedbank Group.
If Safaricom and NCBA’s sale goes through, South Africa will control a big chunk of Kenya’s financial market, including M-Pesa.
NCBA MD John Gachora said Nedbank’s strong balance sheet and technical expertise would help the bank scale up in its current markets and also explore new growth opportunities in the region.
South African lender Nedbank Group has offered to acquire a controlling 66 per cent stake in the Kenyatta family-linked NCBA Group for approximately ZAR 13.9 billion
Nedbank has operations across the region and offices in London, Dubai, the Isle of Man, and Jersey.
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