By BONFACE OTIENO More by this AuthorThe board of Jamii Bora Bank says it has approved the lender’s acquisition by Cooperative Bank pending shareholders’ approval during its special general meeting slated for July 1. Commercial Bank of Africa had in January last year made a Sh1.4 billion offer to buy out Jamii Bora Bank but the deal did not go through. The development comes months after the previous Jamii Bora suitor, Commercial Bank of Africa, dropped plans to acquire the lender and instead merged with NIC Bank to form NCBA group. Other lenders that have been acquired in the recent past include National Bank of Kenya bought out by KCB Group, Fidelity Commercial Bank (SBM), Equatorial Commercial Bank (Mwalimu Sacco), and K-Rep (Centum). Others include Habib Bank Kenya (by Diamond Trust), Giro Commercial Bank (I&M), and Fina (Guaranty Trust).

Source: Daily Nation June 17, 2020 04:41 UTC