This archive report was first published on 1 November 2019.
On November 1, 2019, Kenyan bank shares experienced a significant surge in early trading, marking a second consecutive day of gains.
According to Refinitiv data, Barclays Kenya jumped 7% to trade at Sh12.60 per share, while Equity Bank rose 6.6% to Sh43.15 per share.
Parliament's finance committee had recommended lifting the cap on commercial interest rates in a report on Tuesday, following President Uhuru Kenyatta's refusal to sign the Government's budget for the fiscal year until the cap was removed.
As a result, banking stocks across the board experienced an upward trend.
Related Topics ¶
- Parliament
- Refinitiv
- Bank shares
