Tough year for banks as some seek buyout to remain in businessA National Bank branch along Kenyatta Avenue in Nairobi. With the impending merger of Commercial Bank of Africa and the NIC Bank, Kenya will have had half a dozen deals. This year, SBM took up Chase Bank books and Kenya Commercial Bank bought Imperial Bank’s good books in two carve-out deals. Following the rate cap, small lenders have been suffering since they have less money to do business. This did not solve the problem as depositors have no incentive to put their money in small banks that neither offer a good return nor lend to them.

Source: Standard Digital December 22, 2018 21:00 UTC