Acquisition of 49 Percent of the Issued Share Capital of Mayfair CIB Bank Limited by Commercial International Bank (Egypt) S.A.E.

The Central Bank of Kenya (CBK) announces the acquisition of 49 percent of the shareholding of Mayfair CIB Bank Limited (MBL) by Commercial International Bank (Egypt) S.A.E. (CIB) effective January 31, 2023.  This follows CBK’s approval on January 23, 2023, under Section 13(4) of the Banking Act and approval by the Cabinet Secretary for the National Treasury and Economic Planning on January 24, 2023, pursuant to Section 9(1) of the Banking Act. Read the full press release HERE