Tuesday, August 28, 2007

Bank for sale

The Government intends to sell a portion of Development Bank of Kenya (DBK) to a strategic investor.

The goverment, through ICDC owns 90% of the Bank which was almost merged with Housing Finance in 2005.

DBK is Kenya's 34th largest bank with assets of Kshs. 3.9 billion ($55 million)

1 comment:

coldtusker said...

The bank is cash rich... it would have been a good fit for HFCK...

Since Equity purchased the retail loans from them... I have a sneaky feeling... Equity or HFCK will buy/merge the bank in exchange for shares!!!

It will give Equity the Shareholders equity it needs to continue growing its balance sheet!


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