(Special for CAFS) More Kenyan banks consolidate amid tough environment
Contributed by NAMPA / Xinhua.
by Bedah Mengo
NAIROBI, June 19 (Xinhua) -- Kenya's banking sector witnessed increased consolidation in the first quarter of 2017 as it remained cautious following rise in non-performing loans and the capping of interest rates.
The consolidation in the sector gathered pace in the first three months, with weaker banks being forced to merge or be acquired, Cytonn, a Nairobi-based investment firm noted in a report on Monday.
At least two bigger banks, according to the firm, announced plans to ...