September 24, 2019 / 10:15 AM / 10 months ago

Kenya central bank says banking sector consolidation to continue

NAIROBI (Reuters) - Kenya central bank governor said on Tuesday ongoing consolidation in the banking sector will continue.

“We are not done yet,” Patrick Njoroge told a news conference, adding that the market-driven consolidation was working.

There has been significant consolidation among Kenyan banks since two mid-sized lenders were closed due to liquidity problems, with the most recent major deal being the acquisition of National Bank of Kenya by KCB Group.

Reporting by Duncan Miriri

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