MinBane

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Bank collapses to trigger mergers in the industry in Kenya (Youtube-Clip)

Stakeholders in Kenya’s banking industry say the sector may see a wave of mergers and acquisitions soon, after the liquidation of 1 bank, and the entry into receivership of 2 others, Chase Bank and Imperial Bank. For months now, some local depositors have been seeking safety in bigger institutions. The Central Bank Governor, Patrick Njoroge told journalists on Friday morning that the sector is now entering a new era, where governance and transparency will get a lot more attention. He also said the regulator will establish an unlimited liquidity facility to support distressed local banks, as Uche Okoronkwo, now reports” (CCTV Africa, 2016).

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