This archive report was first published on 7 August 2020.
On August 21st, 2020, Cooperative Bank of Kenya will take ownership of 90% of Jamii Bora Bank, following approvals from the Central Bank of Kenya, National Treasury, and the bank's shareholders.
According to the Central Bank of Kenya, the acquisition will 'diversify the business models of the two institutions, benefiting Co-op Bank's diverse shareholders and enhancing the resilience of the Kenyan banking sector.'
Cooperative Bank of Kenya is the third-largest bank in Kenya, with a market share of 9.96% and 159 branches across Kenya and South Sudan.
At the time of the acquisition, Jamii Bora Bank held a market share of 38 out of 39 banks, as of June 30th, 2020.
See also: Coop Bank to Acquire 100% Stake of Jamii Bora Bank and Coop Bank Partners with IFC in Advisory Deal
