LISTEN TO ARTICLE
KCB has injected KSh 5 billion into the National Bank of Kenya, allowing the subsidiary to meet capital adequacy thresholds. Further, the 5 billion will also help boost National Bank’s Financial resources.
Kenya’s top lender, KCB Group, acquired the financially distressed National Bank of Kenya in 2019 despite some resistance from law makers who demanded a better deal.
“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,” read an announcement from NBK’s company secretary.
“In addition to enabling NBK comply with capital adequacy requirements, the injection bolsters NBK’s finacial resources,” read the statement.
SEE ALSO:
- National Bank Reports Q3 Profit of Sh 642.9 million
- NCBA Boss Calls for Higher Capital Requirements for Banks
