Jamii Bora Bank will now operate as Kingdom Bank Limited. The Co-operative Bank of Kenya Limited (Co-op Bank) has completed acquisition of 90 per cent of Jamii Bora Bank. The former Jamii Bora Bank has changed its name and will now operate as Kingdom Bank Limited. The Board of Directors of Co-op Bank made an offer expressing interest to subscribe for a New Class of Ordinary Shares (Class A) in Jamii Bora Bank for an aggregate Subscription Price of Sh1 billion and which would result in Co-op Bank owning 90 per cent of the issued share capital of Jamii Bora Bank. The Board of Directors of Jamii Bora Bank accepted the offer made by Co-op Bank on June 3, 2020.

Source: Standard Digital August 25, 2020 07:51 UTC