NIC Bank Opens New Branch in Zimbabwe
National Industrial Credit (NIC) Bank has opened a new branch in Zimbabwe at Muzammil Centre on Mlandenge road
“The new branch was opened on Thursday at Muzammil Centre on Mlandege Road,” the bank was quoted by Capital FM.
This opening comes at a time when the Bank has ventured on a merger deal with Commercial Bank of Africa (CBA) which is expected to be completed in the second half of 2019.
The merger will create one of Africa’s largest banks by
customer numbers (40 Million +) with more than 100 branches across the region.
The deal will see 34 shareholders of CBA will own 53% of the then issued shares in NIC Group, whilst existing NIC Group shareholders will own 47% of the then issued shares in NIC Group.
The new entity will also have branches in Uganda, Kampala, Dar es Salaam, Kigali and Abidjan in a bid to boost its base in Africa.