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In 2008, Luxembourg-based AFH, the parent company of the Bank of Africa Group, rebranded itself into Bank of Africa Group S.A., and BMCE took a 35% shareholding interest, bringing financial capital and banking expertise. [12] BMCE became majority owner of the BOA group in 2010, and held a 72.6 percent equity stake by 2013. [6]
The new owners renamed the bank Allied Bank. In October 2006, Banque Belgolaise sold its shares to investors that included the Bank of Africa (Kenya), [5] Aureos East Africa Fund LLC, [6] and Central Holdings (Uganda) Limited. The name of the bank was changed to Bank of Africa (Uganda) Limited. [7]
The Bank traces its roots from Calyon Bank (formally Credit Agricole Indosuez) which was founded in 1981. [4] In April 2004, Groupe Bank of Africa (BOA Group) acquired the operations of Credit Agricole Indosuez in Kenya and incorporated them into its newly formed subsidiary BOA Kenya. This transaction was completed on June 30, 2004.
Bank of Africa Rwanda Limited also BOA Rwanda, formerly known as Agaseke Bank, is a commercial bank in Rwanda. The bank is one of the licensed banks in the Republic of Rwanda. [3] The bank is a growing financial services provider in Rwanda. As of December 2012, its total assets were valued at approximately US$14.6 million (RWF:9.2 billion). [4]
The bank's headquarters are located at NCBA Centre, at the junction of Mara Road and Ragati Road, in the neighborhood called Upper Hill, in Nairobi, the capital city of Kenya. [3] The geographical coordinates of the group's headquarters are:01°17'52.0"S, 36°48'46.0"E (Latitude:-1.297778; Longitude:36.812778). [5]
ABC Bank was started in 1981, as a financial institution named Consolidated Finance Company Limited. By 1994, following the gazettement of a legislation allowing financial institutions to convert into banks, Consolidated Finance Company immediately transformed, giving rise to African Banking Corporation Limited (ABC Bank) in 1995.
In December 2018, NIC Group announced that it would be merging with Commercial Bank of Africa Group (CBA) creating Kenya's third-biggest bank. [11] The merger involved the transfer of 100 percent of the shares of CBA Group by its shareholders to NIC Group in exchange for 53 percent of the newly formed group making the deal a reverse merger .
Bank of Africa Ghana Limited, also referred to as BOA Ghana, is a commercial bank in Ghana. It is one of the commercial banks licensed by Bank of Ghana, the central bank of Ghana, and the national banking regulator. the bank has 33 branches in 2015. [3] BOA Ghana is a large financial services provider in Ghana.