Nairobi Securities Exchange has today morning stopped trading in KCB Group and National Bank shares over a material announcement affecting the two counters. This pointing out to a possible merger between the two banks. According to Financial analyst Alykhan Satchu, he suspects a consolidation of the two is in the offing. “I suspect the merger is a consequence of shortage of capital on the side of National Bank,” Satchu saidIn the period ending December 31, 2018, National Bank reported a 98.3 per cent drop in profits.

Source: The Star April 18, 2019 07:18 UTC