5 Billion Injection
[ad_1] Companies KCB injects Sh5bn into National Bank to shore up capital Thursday, January 9, 2020 9:39 By ELIZABETH KIVUVA National Bank of Kenya Moi Avenue Branch in Nairobi. FILE PHOTO | NMG KCB Group #ticker:KCB has injected Sh5 billion in its newly acquired subsidiary National Bank of Kenya (NBK) #ticker:NBK en
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National Bank of Kenya Moi Avenue Branch in Nairobi. FILE PHOTO | NMG
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KCB injects Sh5bn into National Bank to shore up capital
Thursday, January 9, 2020 9:39 By ELIZABETH KIVUVANational Bank of Kenya Moi Avenue Branch in Nairobi. FILE PHOTO | NMG
KCB Group #ticker:KCB has injected Sh5 billion in its newly acquired subsidiary National Bank of Kenya (NBK) #ticker:NBK enabling it to comply with capital requirements after suffering shortfalls for years.
“In addition to enabling NBK to comply with capital adequacy requirements, the injection bolsters NBK’s financial resources,” National Bank said on Thursday.
KCB had initially estimated a capital injection of up to Sh7.5 billion, with the actual figure pegged on the success level of NBK bad debt recovery.