Kenya Commercial Bank(KCB) has completed the acquisition of Banque Populaire du Rwanda ( BPR) bank.
KCB Group CEO Joshua Oigara said the acquisition follows the securing of requisite regulatory approval from both Kenya and Rwanda making the lender the majority shareholder in the Atlas Mara Mauritius and Arise owned bank.
BPR is Rwanda's second biggest bank.
"The combined history of BPR and KCB will take the group to greater heights, giving us a stronger edge to play a bigger role in driving the financial inclusion and economic empowerment agenda in the East African region, ”KCB CEO Oigara said in a statement
KCB has subsidiaries in South Sudan, Tanzania, Burundi, Uganda as well as Rwanda.
The Kenyan regional bank is also eyeing the purchase of the African Bank Corporation of Tanzania( BanCABC) from ABC Holdings.
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