Kenya central bank says banking sector consolidation to continue


NAIROBI (Reuters) – Kenya central bank governor said on Tuesday ongoing consolidation in the banking sector will continue.

“We are not done yet,” Patrick Njoroge told a news conference, adding that the market-driven consolidation was working.

There has been significant consolidation among Kenyan banks since two mid-sized lenders were closed due to liquidity problems, with the most recent major deal being the acquisition of National Bank of Kenya by KCB Group.

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