Nic Group News

Ndegwa family puts empire on new path with asset sales

The Ndegwas, one of the richest families in Kenya, have proposed or completed five disposals and mergers in the past four years — the latest being the planned merger of Nic Group #ticker:NIC with Commercial Bank of Africa (CBA).

Business Daily Africa , Kenya Dec 11, 2018

Investors rush for NIC shares on merger news

The September 2017 Sh5.5 billion bond restructuring saw the then NIC Bank Limited turn into Nic Group Plc ,a non-operating holding company that oversees the firm’s banking, insurance, securities, capital, leasing and ventures in Kenya, Uganda and Tanzania.

The Star , Kenya Dec 7, 2018

Kenyan bank merger to counter growing West Africa lenders

Nic Group, one of Kenya’s mid-sized publicly traded banks, is in merger talks with Commercial Bank of Africa (CBA), the nation’s biggest closely held lender, the two said Thursday.

The Standard , Kenya Dec 7, 2018

Kenyattas, Ndegwas create 3rd largest bank in merger

Companies Kenyattas, Ndegwas create 3rd largest bank in merger Mr Muhoho Kenyatta, director, CBA Group (left) and Mr James Ndegwa, director, Nic Group.

Business Daily Africa , Kenya Dec 7, 2018

CBA in merger talks with rival NIC Bank

[PHOTO:WILBERFORCE OKWIRI/STANDARD] The Commercial Bank of Africa (CBA) which is associated with the Kenyatta family has started talks that will see it merge with Nic Group in what promises to be the corporate buyout of the year.

The Standard , Kenya Dec 6, 2018

NIC Group and CBA in merger talks

, NAIROBI, Kenya, Dec 6 – Nic Group PLC and Commercial Bank of Africa (CBA) have announced that their Boards of Directors have authorized the commencement of discussions regarding a potential merger of the two entities.

Capital News , Kenya Dec 6, 2018

NIC Bank in merger talks with CBA

Companies NIC Bank, Commercial Bank of Africa announce merger talks The Nic Group and Commercial Bank of Africa have announced that they are engaged in talks regarding a potential merger of the two financial institutions.

Business Daily Africa , Kenya Dec 6, 2018

NIC Bank, Commercial Bank of Africa announce merger talks

The two lenders said a successful merger would allow it to “invest in future growth and in new technology to create enhanced offerings and wider services to its customers By BRIAN NGUGI The Nic Group and Commercial Bank of Africa have announced that they are engaged in talks regarding a potential merger of the two financial institutions.

The East African , Kenya Dec 6, 2018