Connect with us

Hi, what are you looking for?

Capital Business
Capital Business


Diamond Trust Bank completes acquisition of Habib Bank Kenya

Nasim Devji, DTB CEO

NAIROBI, Kenya, July 28 – Diamond Trust Bank has finalized the acquisition of Habib Bank Kenya following Central Bank’s final approval of the deal.

In consideration for the acquisition, Habib Bank’s parent company based in Pakistan has upped its shareholding in DTB by acquiring an additional 4.18 percent in the Kenyan Bank.

“HBLK will cease to be a bank licensed by CBK, and its rights and obligations will be taken up by DTB,” Central Bank said in a statement.

Consequently, effective first of August, Habib Bank Kenya will cease to be a bank and all stakeholders including depositors, borrowers, employees and creditors will continue their relationships with Diamond Trust Bank.

The acquisition includes a share swap arrangement that will now see Habib Bank hold 16.72percent shareholding in DTB.

According to the Central Bank, the acquisition pushes DTB’s market share to six percent.

Click to comment

More on Capital Business

Executive Lifestyle

NAIROBI, Kenya, Mar 12 – The country’s super wealthy individuals are increasing their holding of bonds, gold and cash, a new report by Knight...

Ask Kirubi

NAIROBI, Kenya, Mar 9 – Businessman and industrialist Dr. Chris Kirubi has urged members of the public to exercise extreme caution when making any...

Ask Kirubi

NAIROBI, Kenya, Mar 24 – Businessman and industrialist Dr. Chris Kirubi is set to own half of Centum Investment Company PLC, following a go-ahead...

Ask Kirubi

It is without a doubt that the COVID-19 pandemic has caught the whole world by surprise. Although its full impact is yet to be...


NAIROBI, Kenya, Mar 18 – Commercial Banks have been ordered to provide relief to borrowers on their personal loans, with loans eligible from March...


NAIROBI, Kenya, Jun17 – Kenya’s tea leaves manufacturer Kericho Gold, has been awarded the Superbrands Seal by Superbrands East Africa for their quality variety...


NAIROBI, Kenya, Apr 13 – As the local telecommunications industry gears up to roll out 5G networks in the country, the Communications Authority of...


NAIROBI, Kenya, Mar 22 – Airtel Kenya is offering free internet access for students in order to enable continued learning at home in the...