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GAZETTE NOTICE NO. 3656

THE BANKING ACT

(Cap. 488)

ACT

IT IS notified for information of the general public that pursuant to the provisions of section 9 (1) and (5) of the Banking Act: 1. The Board of Directors of First Community Bank Limited and Premier Bank Limited (Somalia) vide resolutions passed on January 7, 2023, and January 16, 2023, respectively, approved the acquisition of 62.5 percent of the issued share capital of First Community Bank Limited by Premier Bank Limited (Somalia) as per the Share Subscription Agreement dated January 16, 2023. 2. The Shareholders of First Community Bank Limited and Premier Bank Limited (Somalia) vide resolutions passed on January 9, 2023, and January 16, 2023, respectively, approved the acquisition of 62.5 percent of the issued share capital of First Community Bank Limited by Premier Bank Limited (Somalia) as per the Share Subscription Agreement dated January 16, 2023. 3. In exercise of the powers conferred by section 9 (1), the Cabinet Secretary for the National Treasury and Planning on March 16, 2023 approved the acquisition of 62.5 percent of the issued share capital of First Community Bank Limited by Premier Bank Limited (Somalia). 4. The acquisition shall take effect on March 27, 2023. Dated the 17th March, 2023. PATRICK NJOROGE, Governor, Central Bank of Kenya.

Dated the 17th March, 2023.

PATRICK NJOROGE,

Governor, Central Bank of Kenya.

Extracted Entities (1)

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3656

Details

Act / Legislation: THE BANKING ACT
Reference: Cap. 488
Section: section 9 (1)
Signed By: PATRICK NJOROGE
Title: Governor, Central Bank of Kenya
Date Signed: 17th March 2023
Page: 1
Extraction Method: regex

Source Gazette

Vol. CXXV No. 66

Published 15th March 2023