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Introduction
Due to changes in the operating environment, several licensed institutions, mainly commercial banks, have had to merge (combine their operations in mutually agreed terms) or one institution takes over another’s operations (acquisitions). Some of the reasons put forward for mergers and acquisitions are: to meet the increased levels of share capital; expand distribution network and market share; and to benefit from best global practices among others. The schedules below detail the Institutions which have merged or participated in acquisitions as well as the dates when mergers or acquisitions were approved.


No. Institution Merged with Current Name Date approved
1 TransnationalFinance Ltd. Transnational Bank Ltd. Transnational Bank Ltd. 28.11.1994
2 Ken Baroda Finance Ltd. Bank of Baroda (K) Ltd. Bank of Baroda (K) Ltd. 02.12.1994
3 Stanbic Bank (K) Ltd. Stanbic Finance (K) Ltd. Stanbic Bank Kenya Ltd. 05.01.1996
4 CBA Financial Services Commercial Bank of Africa ltd Commercial Bank of Africa ltd 26.01.1996
5 National Industrial Credit Bank Ltd. African Mercantile Banking Corp. NIC Bank Ltd. 14.06.1997
6 Giro Bank Ltd. Commerce Bank Ltd. Giro Commercial Bank Ltd.  24.11.1998
7 Guardian Bank Ltd. First National Finance Bank Ltd. Guardian Bank Ltd. 24.11.1998
8 Diamond Trust Bank (K) Ltd. Premier Savings & Finance Ltd. Diamond Trust Bank (K) Ltd. 12.02.1999
9 National Bank of Kenya Ltd. Kenya National Capital Corp. National Bank of Kenya Ltd. 24.05.1999
10 Standard Chartered Bank (K) Ltd. Standard Chartered Financial Services Standard Chartered Bank (K) Ltd. 17.11.1999
11 Barclays Bank of Kenya Ltd. Barclays Merchant Finance Ltd. Barclays Bank of Kenya Ltd. 22.11.1999
12 Habib A.G. Zurich Habib Africa Bank Ltd. Habib Bank A.G. Zurich 30.11.1999
13 Guilders Inter. Bank Ltd. Guardian Bank Ltd. Guardian Bank Ltd. 03.12.1999
14 Universal Bank Ltd. Paramount Bank Ltd. Paramount Universal Bank 11.01.2000
15 Kenya Commercial Bank Kenya Commercial Finance Co. Kenya Commercial Bank Ltd. 21.03.2001
16 Bullion Bank Ltd. Southern Credit Banking Corp. Ltd. Southern Credit Banking Corp. Ltd. 07.12.2001
17 East African Building Society Akiba Bank ltd EABS Bank ltd 31.10.2005
18 First American Bank ltd Commercial Bank of Africa ltd Commercial Bank of Africa ltd 01.07.2005
19 Co-operative Merchant Bank ltd Co-operative Bank ltd Co-operative Bank of Kenya ltd 28.05.2002
20 ABN AMRO Bank Citibank N.A Citibank N.A 30.11.2005
21 Savings and Loan (K) Limited Kenya Commercial Bank Limited Kenya Commercial Bank Limited 01.02.2010
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