This archive report was first published on 23 August 2019.
Kenya Commercial Bank (KCB) has taken over National Bank of Kenya, and as a result, shareholders are being asked to swap their NBK shares for KCB shares.
According to the offer, for every 10 NBK shares held, a shareholder will be issued 1 KCB share. This offer is set to close on August 30th, 2019.
Shareholders who have not received their Form of Acceptance via post can obtain a serialized replacement copy from the registrar or any KCB Branch. To submit the Form of Acceptance, shareholders will need to attach specific documents, including a copy of their ID, certificate of incorporation, and stamp/seal for corporate shareholders, or a CDS 6 letter and bankers cheque for pledged shares.
It's worth noting that National Bank of Kenya recorded a 98 percent drop in profit to Sh7 million in 2018, down from Sh400 million in the previous year, due to struggles with bad loans.
For more information, please visit your nearest KCB Branch or Authorized acceptance agent.
