Co-operative Bank to acquire Jamii Bora Bank - CBK

Central Bank of Kenyan has announced a proposed acquisition of Jamii Bora Bank by Co-operative Bank.

In a statement released on Wednesday, CBK indicated that the move will diversify the business models of the two banks.

"CBK welcomes the transaction that will diversify the business models of the two institutions and enhance the stability of the Kenyan banking sector," the CBK press release read.

According to the CBK, Co-op bank declared it's intrest acquiring 100 perent shareholding of Jamii Bora Bank (JBB).