Kenya’s largest Bank in terms of assets,The Kenya Commercial Bank Group(KCB ) has created a new holding company to manage KCB’s Kenya and its east african subsidiaries in line with CBK’s requirements.
Formation of the new holding company was approved the Central Bank of Kenya, the Capital Markets Authority and the National Treasury.
However,any changes will not affect KCB’s shareholding structure at the Nairobi Securities Exchange.
‘The new units will operate independently under supervision of the mother company to ensure they adhere to laid down practices and move towards boosting the bank’s financial performance remarkably’ KCB Group chairman Mr Ngeny Biwott said in a statement.
