DRC: Kenyan banking group KCB completes acquisition of Trust Merchant Bank

The shareholders of the Kenyan banking group approved, on the sidelines of an extraordinary meeting held on September 21 in Nairobi, the completion of the acquisition of Trust Merchant Bank (TMB) in the Democratic Republic of Congo (DRC) by the end of 2022.
KCB said that this new decision will allow it to accelerate the acquisition process announced last August. The banking group has expressed its wish to acquire 85% of the Congolese bank’s shares during the second half of 2022 and the remaining 15% within two years.