There’s a moratorium on new banks licences, but still a lot happening in the ownership suites.
Who’s In
- Bank M (of Tanzania) has bought out and rebranded (the former) Oriental Commercial Bank.
- Sidian Bank: Centum bought out and rebranded (the former) K-Rep bank.
- Spire Bank: Mwalimu SACCO bought out and rebranded (the former) Equatorial Commercial bank.
Who’s Hanging On
- Chase bank now reopened, but yet to resume lending. An ownership decision is expected soon (process being managed by KCB)
- Credit bank: Discussions are ongoing about a sale to FEP Holdings
- Imperial bank (assets will be assessed and managed by NIC bank)
Who’s on the Way Out
- Dubai bank (proceeding into liquidation)
- Giro bank which has been bought out by I&M bank.
- edit The CFC brand as CFC Stanbic Bank and CFC Stanbic Holdings (i.e group) becomes Stanbic Bank Kenya and Stanbic Holdings PLC respectively – this comes about nine years after their merger of CFC and Stanbic banks.