This follows the securing of the requisite regulatory approvals in
"The combined history of BPR and KCB will take the Group to greater heights, giving us a stronger edge to play a bigger role in driving the financial inclusion and economic empowerment agenda in the East African region," said Oigara.
"This will increase our scale and improve our operating leverage by enabling us to deliver our existing retail and wholesale offerings to a wider base of customers in
BPR is a strong retail and
The plan, said Oigara, is to eventually create one banking entity in
The merger will provide current KCB Rwanda's customers with access to a larger network of branches and agents across the country, while BPR's customers will benefit from best-in-class digital capability, transactional banking solutions, trade finance expertise and international banking offering from KCB, the Group CEO and MD said.
Additionally,
The proposed acquisition is however pending some approvals.
The acquisition of BPR and BancABC provides KCB with the opportunity to rapidly scale up its balance sheet and revenue streams while leveraging on cost synergies, effectively putting it and all its stakeholders on a path to greater prosperity, said Oigara.
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