Monday, June 25, 2007

Standard Bank buys control of Kenya's CFC Bank

(Reuters) - The Kenyan unit of South Africa's Standard Bank plans to acquire a 60 percent stake in Kenya's CFC Bank, subject to regulatory approval, the two banks said on Monday.

The CFC Bank group, with assets of 40.4 billion shillings at the end of 2006, would be renamed CFC Stanbic Holdings.


Read more at Reuters Africa

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