Kenya’s Equatorial, Southern Banks Complete Merger
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Kenya’s Equatorial Commercial Bank Ltd. and Southern Credit Bank have received shareholder and regulatory approvals for their merger, which takes effect tomorrow, they said in a joint e-mailed statement yesterday.
“Plans to integrate the two businesses are far advanced, and from the first day of trading as a new merged entity, the bank will operate from one common banking technology platform meaning that existing customers of both banks will be able to transact at any of the enlarged entity’s branches,” the statement said.