Standard Bank wants Kenyan unit among nation’s top lenders Lender sees options in Ethiopia once banking is liberalized
Standard Bank Group Ltd., Africa’s biggest bank by assets, plans to acquire a lender in Kenya by 2025 as part of its growth strategy, according to the company’s East Africa Regional Chief Executive Patrick Mweheire.
Also read: Kenya to export US$6M sheep and meat to Iran per month
The plan is for its Kenyan unit, Stanbic Holdings Plc, to grow through an acquisition within two years, Mweheire said in an interview in the capital, Nairobi. Standard Bank wants to use the purchase to become one of the largest operations in a market dominated by local brands such as Equity Group Holdings Plc and KCB Group Plc.
Source:
Bloomberg
