Nairobi, Jan. 22 -- NCBA Group has revealed that it opted for South Africa's Nedbank Group as a strategic investor after snubbing other bidders, citing its preference for minimal disruption to its business, staff, and brand as the key deciding factors.

The lender disclosed on Thursday that it had, over time, attracted interest from multiple suitors but ultimately settled on Nedbank, ending months of market speculation that it would be acquired by Standard Bank Group through its Kenyan subsidiary, Stanbic Holdings.

NCBA chief executive John Gachora said the board prioritised a transaction that would preserve the bank's identity and avoid a "painful integration" process that has characterised past mergers in the region.

However, Mr Gacho...