Select Page

Mergers & Acquisitions

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.No.InstitutionMerged withCurrent NameDate approved
1 1 9 Financial Institutions All 9 Financial Institutions Merged together Consolidated Bank of Kenya Ltd 1989
2 2 Indosuez Merchant Finance Banque Indosuez Credit Agricole Indosuez 10.11.1994
3 3 Transnational Finance Ltd Transnational Bank Ltd Transnational Bank Ltd 28.11.1994
4 4 Ken Baroda Finance Ltd Bank of Baroda (K) Ltd Bank of Baroda (K) Ltd 02.12.1994
5 5 First American Finance Ltd First American Bank Ltd First American Bank (K) Ltd 05.09.1995
6 6 Bank of India Bank of India Finance Ltd Bank of India (Africa) Ltd 15.11.1995
7 7 Stanbic Bank (K) Ltd Stanbic Finance (K) Ltd Stanbic Bank Kenya Ltd 05.01.1996
8 8 Mercantile Finance Ltd Ambank Ltd Ambank Ltd 15.01.1996
9 9 Delphis Finance Ltd Delphis Bank Ltd Delphis Bank Ltd 17.01.1996
10 10 CBA Financial Services Commercial Bank of Africa ltd Commercial Bank of Africa ltd 26.01.1996


No.InstitutionAcquired byCurrent NameDate approved
1 Mashreq Bank Ltd Dubai Kenya Ltd Dubai Bank Ltd 01.04.2000
2 Credit Agricole Indosuez (K) Ltd Bank of Africa Kenya Ltd Bank of Africa Bank Ltd 30.04.2004
3 EABS Bank Ltd Ecobank Kenya Ltd Ecobank Bank Ltd 16.06.2008
4 Fina Bank Ltd Guaranty Trust Bank Plc Guaranty Trust Bank (Kenya) Ltd 08.11.2013
5 K-Rep Bank Ltd Centum Ltd K-Rep Bank Ltd 29.10.2014
6 Equatorial Commercial Bank Ltd Mwalimu Sacco Society Ltd Equatorial Commercial Bank Ltd 31.12.2014
7 Giro Commercial Bank Ltd I&M Bank Ltd I&M Bank Ltd 13.02.2017
8 Fidelity Commercial Bank Ltd SBM Bank Kenya Ltd SBM Bank Kenya Ltd 10.05.2017
9 Habib Bank Kenya Ltd Diamond Trust Bank Kenya Ltd Diamond Trust Bank Kenya Ltd 01.08.2017
0 National Bank of Kenya Limited (NBK) KCB Group PLC Operations continued under respective brand names. 02.09.2019