Zenith Bank to Acquire Kenyan Bank After Meeting CBN’s N500 Billion Recapitalisation Target

Zenith Bank to acquire Kenyan Bank after meeting CBN’s N500 billion recapitalisation target

Nigeria's Zenith Bank is eyeing the Kenyan market with a planned acquisition of a tier-2 bank after it raised the required N500 billion target set by the CBN.

Zenith Bank in talks to acquire a tier-two lender in Kenya within the next 3 months

Zenith Bank of Nigeria is in strategic talks to acquire a tier-two lender in the Kenyan market. The move marks Nigeria’s second-largest lender’s first entry into East Africa following the steps of other Nigerian banks who have secured a presence in the region. According to reports, top Zenith Bank executives are expected to fine-tune talks in Nairobi within the next three months. While Kenya’s banking sector restructures its capital requirement …