(Photo: Wilberforce Okwiri/Standard)Kenya Commercial Bank (KCB) will maintain a stable financial performance in future despite the cap in cost of lending, global rating agency Standard & Poor’s (S&P) has said. In its latest assessment of region’s largest lender by asset base, the agency revised the lender’s rating from negative to stable based on among other factors strong capital buffers and well-structured deposit-based funding model. “The rating confirms KCB fundamentals remain strong and we are going all out to solidify this position,” commented Oigara on the revised outlook of ‘B+/B’. S&P further said it expects KCB to be better placed in benefiting from stronger operating environment and that its business model will support asset quality and capitalisation. Oigara also put on hold the plan to raise money through rights issue, telling investors that the bank expects strong cash flow in current financial year.

Source: Standard Digital October 20, 2016 16:41 UTC