Share the article
twitter-iconcopy-link-iconprint-icon
share-icon
AfricaAugust 12 2022

KCB extends its rivalry with Equity Group to the DRC

The Kenyan lender's acquisition of Trust Merchant Bank follows the Democratic Republic of Congo's formal entry into the East African Community. Charlie Mitchell reports.
Share the article
twitter-iconcopy-link-iconprint-icon
share-icon
KCB extends its rivalry with Equity Group to the DRC

When Equity Group, Kenya’s second largest bank, entered the vast Congolese market with its acquisition of Banque Commerciale du Congo in 2020, its arch-rival KCB Bank took notice.

This month, analysts’ predictions were realised when KCB, Kenya’s largest bank by asset base, acquired a majority stake in Trust Merchant Bank (TMB), a Democratic Republic of Congo (DRC) lender headquartered in the country’s mining capital, Lubumbashi.

To continue reading, join our community and benefit from

  • In-depth coverage across key markets
  • Comments from financial leaders and policymakers worldwide
  • Regional/country bank rankings and awards
Activate your free trial