September 27, 2019 / 10:40 AM / 17 days ago

REFILE-Kenya central bank approves merger of lenders NIC and CBA Group

(Adds dropped word in headline)

NAIROBI, Sept 27 (Reuters) - Kenya’s central bank has approved the merger of Commercial Bank of Africa and NIC Group , it said on Friday.

“Following the merger, effective October 1, 2019, all subsidiaries will operate under a non-operating holding company, NCBA Group Plc,” the central bank said in a statement. (Reporting by George Obulutsa Editing by Duncan Miriri)

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