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• NIC Group PLC was approved as a non-operating holding company following the transfer of Kenyan banking business and net assets to NIC Bank Kenya PLC (The new bank). This was on completion of the group reorganization effective from 1st September 2017.
• The holding company oversees the banking subsidiaries NIC Bank Kenya PLC, NC Bank (Uganda), NIC Bank (Tanzania), and non-bank subsidiaries NIC Insurance, NIC Securities, NIC Capital, NIC Leasing and NIC Ventures.
• The holding company was set up to support the Group’s medium and long term strategy through a structure that facilitates optimal use of capital, better strategic management, more effective risk management, and improved governance of the subsidiaries.