NCBA Group shares on the Nairobi Securities Exchange (NSE) jumped to Ksh 76 from Ksh 69 on Tuesday, October 14, 2025, amid reports that the Standard Bank Group is in talks to acquire the lender.
Standard Bank Group, through its local subsidiary Stanbic Bank Kenya, is reportedly seeking to buy NCBA Group Plc, in a deal that could create Kenya’s third-largest bank by assets.
According to sources who spoke to Bloomberg on condition of anonymity, talks are ongoing, but there is no guarantee that the transaction will be finalized. However, both parties aim to conclude discussions within the coming months.
NCBA’s CEO John Gachora and Stanbic’s CEO Joshua Oigara have yet to comment on the matter. Standard Bank also declined to comment, saying any official communication would be made through regulatory channels.
NCBA Bank Reportedly Being Acquired by Standard Group
NCBA’s market capitalization currently stands at Ksh 114.5 billion, with its shares having surged 73% over the past 12 months.
On Tuesday morning, its stock climbed by 9.7% to a record KSh 76.25, while Stanbic’s shares edged up 0.3% to KSh 199, marking a 65% increase over the same period.
If completed, the merger would create total assets estimated at Ksh 1.1 trillion ($8.5 billion), positioning it just behind Equity Group Holdings Plc and KCB Group Plc.
The ongoing discussions come amid a wave of consolidation in Kenya’s banking sector.
Also Read: NCBA Company Secretary Resigns with Immediate Effect
On April 14, 2025, the Central Bank of Kenya (CBK) announced that Access Bank PLC had acquired 100 percent of National Bank of Kenya (NBK) from KCB Group PLC.
This acquisition followed the Central Bank’s approval on April 4, 2025, under Section 13 (4) of the Banking Act, and the approval by the National Treasury Cabinet Secretary on April 10, 2025, in accordance with Section 9 of the Banking Act.
Additionally, the Central Bank approved the transfer of certain assets and liabilities of NBK to KCB Bank Kenya Limited on April 4, 2025.
In June 2025, Nigerian fintech Moniepoint Inc. received approval from the Competition Authority of Kenya (CAK) to acquire a 78% stake in Sumac Microfinance Bank. The deal allows Moniepoint to enter the Kenyan market while retaining all Sumac employees under existing terms.
About Standard Bank
Standard Bank Group is Africa’s largest bank by assets and market capitalization, with a presence in over 20 Sub-Saharan African countries and global centers in four locations.
The South African-based company provides a wide range of services to individuals, businesses, and commercial clients, including banking, corporate and investment banking, and insurance.
About NCBA
NCBA Group Plc is one of Kenya’s leading financial institutions, formed in 2019 through the merger of NIC Group and Commercial Bank of Africa (CBA). Headquartered in Nairobi, NCBA offers retail, corporate, and asset finance services across Kenya, Uganda, Tanzania, Rwanda, and the Ivory Coast.
Also Read: Billions KCB, Co-op, NCBA & Other Top Kenyan Banks Have Made So Far in 2025
The bank is well known for various innovative digital banking solutions, particularly through M-Shwari, a mobile savings and loan product developed in partnership with Safaricom.
Follow our WhatsApp Channel and X Account for real-time news updates.
