Business

Kenya’s KCB Group injects 5 bln shillings into NBK after acquisition

Customers are seen outside the banking hall at the Kenya Commercial Bank (KCB), Kencom branch in Nairobi, Kenya July 10, 2018. southafricnews/Thomas Mukoya

NAIROBI (southafricnews) – Kenya’s biggest lender by assets, KCB Group, has injected 5 billion shillings ($49.31 million) into National Bank of Kenya (NBK), which it acquired last year, it said on Thursday.

“In addition to enabling NBK to comply with capital adequacy requirements, the injection bolsters NBK’s financial resources,” the lender said.

($1=101.4000 Kenyan shillings)

Reporting by Duncan Miriri; Editing by Clarence Fernandez

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