This archive report was first published on 9 January 2020.
On January 9, 2020, KCB Group made a significant move to support its subsidiary, National Bank of Kenya, by injecting KSh 5 billion into the bank.
This injection not only enables National Bank to meet the capital adequacy thresholds but also bolsters its financial resources.
As reported earlier, KCB Group acquired National Bank of Kenya in 2019, despite some resistance from lawmakers who demanded a better deal.
According to an announcement from National Bank's company secretary, 'The Board of National Bank of Kenya Limited (NBK) is pleased to announce that KCB Group PLC (KCB) has injected Kenya Shilling Five Billion into NBK.'
Additionally, the statement read, 'In addition to enabling NBK comply with capital adequacy requirements, the injection bolsters NBK's financial resources.'
