NCBA Group plc is reportedly in secret discussions to sell the business to Standard Bank Plc, Africa’s biggest bank by balance sheet size. NCBA is the suitor in the deal that would see the lender acquired by Standard Bank’s local subsidiary Stanbic Bank Kenya Limited.
NCBA, with an estimated market value of KSh 126. Billion, saw its share price at the Nairobi Securities Exchange(NSE) soar to a new high of KSh 76.25 when news about the planned acquisition filtered through the Nairobi Bourse.
Analysts at Bloomberg disclosed that were the deal to go through, this transaction could create Kenya’s third largest bank behind Equity Group and state owned Kenya Commercial Bank(KCB) Group.
The acquisition will see it combine its assets and that of South Africa-based Stanbic Holdings Plc, pushing the new outfit’s balance sheet size to KSh 1.1 trillion, according to data from both lenders.
This move comes against the backdrop of Central Bank of Kenya(CBK) raising the minimum capital requirements for banks.
NCBA Beneficiaries in the Planned Acquisition Deal
According to Mr Dedan Maina, a Certified Financial Analyst in Nairobi, the shares of NCBA Group will likely be exchanged for those in Stanbic Holdings or a combination of cash and shares, subject to terms of the acquisition deal.
In a likely scenario, shareholders of NCBA may receive a cash payment for their stakes, often at a premium to the current market price or a combination of shares in the new outfit and a cash payment.
Kenyan Banking CEOs Lead the Foray Into African Markets
NCBA top individual shareholders likely to win big in this acquisition deal includes the Ndegwa Family, and the Kenyatta family, one of the biggest owners of NCBA.
The Kenyatta family through Enke Investments, owns an estimated 13.2% of NCBA behind the Ndegwa family with a14.94% shareholding through First Chartered Securities.
NCBA Bank is one of the leading lenders in Kenya with a presence in Uganda, Tanzania, Rwanda and Ivory Coast. The Bank has a niche in corporate banking, asset finance and digital banking. The lender is noted for its robust M-M-Shwari platform- a pioneer in the digital lending space, a product that it runs in partnership with Safaricom.
NCBA Group PLC posted a 12.6% rise in Half-Year 2025 Net Profit of KSh 11.1 billion, up from KSh 9.8 billion over the same period in 2024.
