National Bank of Kenya shareholders have unanimously approved the issuance of bonus shares aimed at shoring up the bank’s capital base.
The decision, which was ratified during the bank’s 48th annual general meeting held on May 19th2017 will see the Bank issue one new share for every 10 shares held by existing shareholders and help raise about Sh153.99 million in reserves.
Additional 30.79 million shares will be issued at a price of Sh5, bringing the total fully paid-up share capital at National Bank to 338.79 million ordinary shares.
The bank recorded a profit before tax of KES 182 million for the period ending 31 December 2016 compared to a loss of KES 1.6 billion in 2015.
