National Bank of Kenya (NBK), a subsidiary of Kenyan lender KCB Group (KCB.NR), is expected to be sold, according to a report published in the Daily Nation on Wednesday, citing anonymous sources.
The Daily Nation stated that the potential deal’s valuation was undisclosed and that the bank will probably be sold to an unnamed Nigerian lender.
In 2019, the state took control of NBK, a medium-sized institution, and KCB, the country’s second-biggest lender, purchased it as part of a rescue agreement arranged by the central bank.
When Reuters asked KCB for confirmation of the news of a possible sale, they did not respond. The central bank did not respond right away either.
An investor briefing by KCB is planned around 1300 GMT.
