Investment: KCB Group Plc announces the acquisition of 85% of Trust Merchant Bank : Orishas-finance

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Investment: KCB Group Plc announces the acquisition of 85% of Trust Merchant Bank

11/08/2022

Categories: Companies

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Investment: KCB Group Plc announces the acquisition of 85% of Trust Merchant Bank

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After the BCDC by the Kenyan banking group Equity, KCB Group Plc of Kenya announces that it will soon acquire the Trust Merchant Bank (TMB).

Before acquiring full ownership within two years, KCB Group Plc announced that it will acquire 85% of TMB, a company based in the Democratic Republic of Congo (DRC). One of the largest banks in the DRC, TMB has $1.5 billion in total assets. It has a strong offering in the retail, SME, corporate and digital banking channels. It has 110 branches and numerous banking agencies. The new acquisition will complement KCB Group's regional presence with an asset base of $12.6 billion.

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