CfC Stanbic Holdings shareholders have overwhelmingly approved the name change from CfC Stanbic to Stanbic Bank Kenya.
The shareholders unanimously voted back in August, in favour of the name change that will see both the Holdings company and the bank drop CfC and pave the way for the formal adoption of the Stanbic Bank brand with CfC Stanbic Bank becoming Stanbic Bank and CfC Stanbic Holdings becoming Stanbic Holdings Plc.
In June 2008, Standard Bank Group merged its Kenyan operation then, Stanbic Bank Kenya, with CfC Bank Limited, which included CfC Bank, Heritage Insurance, CfC Life and CfC Financial Services giving birth to CfC Stanbic Holdings as the listed entity. April 2011 saw the demerger of the insurance and banking business. CfC Stanbic Bank and CfC Financial Service (now SBG Securities) became subsidiaries of CfC Stanbic Holdings, while the insurance businesses became subsidiaries of Liberty Life.
With regulatory approval, Stanbic Bank Kenya officially aligns itself from a naming and branding convention to parent company - Standard Bank Group.