KCB Names Paul Russo as NBK Managing Director as Merger Concludes Despite Protests

KCB's Paul Russo (L) at a past function

With even strong opposition from a section of the civic society, KCB Group PLC is set to take up control of the National Bank of Kenya (NBK) and has upped the ante by naming the transition Managing Director.

In a statement issued this morning, KCB Group Director of Regional Businesses Paul Russo is set to assume the role of National Bank of Kenya Managing Director for a period of two years to oversee the full integration of NBK with KCB.

Paul Russo will lead the transition team that will report to the KCB Group Chief Executive Officer and Managing Director Joshua Oigara.

READ: KCB Is The Best Bank In Mobile Banking

The developments come a day after the CBK gave the go-ahead to KCB to fully acquire NBK in a deal which is continuing to raise questions while KCB has chosen to fully ignore the cries of those questioning the deal.

Members of parliament opposed the deal and questioned if Kenyans who are the major shareholders in NBK would get value for money in the deal. KCB chose quiet while Treasury which was being headed by a man tainted with corruption came out to defend KCB like the bank couldn’t defend itself.

READ: KCB To Inherit Ksh31.4 Billion Bad Loans In NBK Merger

In June, a group of Kenyans went to court to oppose the acquisition which has been pushed through without clear answers to the protests. The deal might just be as bad that of Telkom Kenya which never recovered since the privatisation some years back.

Email your news TIPS to or WhatsApp +254708677607. You can also find us on Telegram through

Written by Kahawa Tungu


Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Questions Mariga Was Asked At Jubilee Headquarters And How He Beat The Rest

KNUT Vows To Block Wilson Sossion From Resuming Office