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In December 2018, CBA Group announced that it would be merging with NIC Group Plc creating Kenya's third-biggest bank. [15] 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. [16]
CBA was licensed by the Central Bank of Kenya, the central bank and national banking regulator. [2] As of December 2015, the bank was one of the largest commercial banks in Kenya with assets of approximately US$2.166 billion (KES:215.6 billion), with shareholders' equity of approximately US$217.83 million (KES:21.68 billion). [1]
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. [12]
NCBA Bank Kenya, whose full name is NCBA Bank Kenya Plc, is a commercial bank in Kenya. It is licensed by the Central Bank of Kenya , the country's central bank and national banking regulator. [ 3 ] [ 4 ]
In November 2015, the CBA Group, Kenya's largest privately owned financial services provider publicly announced their intention to enter the Rwandan market. [6] The group applied for a banking licence from the Rwanda authorities. [6] In December 2016, the National Bank of Rwanda issued CBA Rwanda with a micro-finance banking licence.
This is the Central Bank of Kenya's list of Licensed Microfinance Banks, updated in August 2024. [3]Caritas Microfinance Bank Ltd; Branch Microfinance Bank Ltd
As of 31 December 2023, the total assets of the bank were valued at UGX:854 billion (US$227.324 million). [2] The bank is a wholly owned subsidiary of the NCBA Group Plc, headquartered in Nairobi, Kenya, with subsidiaries in Kenya, Tanzania, Rwanda, Ivory Coast and Uganda. [4]
Commercial Bank of Africa was founded in 1962 in Dar es Salaam. Branches were soon opened in Nairobi and Mombasa, Kenya and in Kampala, Uganda. When Tanzania nationalized private banks in 1967, the bank moved its headquarters to Nairobi. Following political changes in Uganda in 1971, the bank sold its assets in that country.