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GAZETTE NOTICE NO. 5590

THE BANKING ACT

(Cap. 488)

APPROVAL

IT IS notified for information of the general public that pursuant to the provisions of section 9 (5) of the Banking Act: 1. The Board of Directors of Paramount Bank Limited vide a resolution passed on the 30th September, 2025, approval the acquisition of 100 percent of the issued share capital of Paramount Bank Limited by Zenith Bank PLC as per the share Purchase Agreement dated the 30th September, 2025. 2. The Board of Directors of Zenith Bank PLC, on behalf of the shareholders, vide a resolution passed on the 24th September, 2025, approved the acquisition of 100 percent of the issued share capital of Paramount Bank Limited as per Share Purchase Agreement dated the 30th September, 2025. 3. Pursuant to section 13(4) of the Banking Act, the Central Bank of Kenya on the 9th March, 2026, approved the transfer of 100 percent of the issued share capital of Paramount Bank Limited by Zenith Bank PLC. 4. Pursuant to section 9(1) of the Banking Act, the Cabinet Secretary for the National Treasury and Economic Planning on the 16th March, 2026, approved the acquisition of 100 percent of the issued share capital of Paramount Bank Limited by Zenith Bank PLC. 5. A public announcement will be made by Paramount Bank Limited upon completion of the transaction in accordance with the terms of the Agreement. Dated the 10th April, 2026. KAMAU THUGGE, SO7947 Governor, Central Bank of Kenya.

Dated the 30th September, 2026.

KAMAU THUGGE,

SO7947 Governor, Central Bank of Kenya.

Extracted Entities (1)

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5590

Details

Act / Legislation: THE BANKING ACT
Reference: Cap. 488
Section: section 9 (5)
Signed By: KAMAU THUGGE
Title: SO7947 Governor, Central Bank of Kenya
Date Signed: 30th September 2026
Page: 7
Extraction Method: regex

Source Gazette

Vol. CXXVIII No. 68 (SUPPLEMENT)

Published 17th April 2026