Kenya : KCB, Equity bank shares slump again after rates cap - News Summed Up

Kenya : KCB, Equity bank shares slump again after rates cap


Updated Fri, August 26th 2016 at 10:41 GMT +3NAIROBI, KENYA: Shares in KCB Group, operator of Kenya's biggest bank by assets, fell by 10 percent at the start of trading on Friday as investors reacted to a government move to cap the level of interest that banks can charge borrowers. Equity Bank, which serves millions of micro-borrowers, fell by a similar margin. KCB's shares were trading at Sh27 ($0.2665) each while shares of Equity traded hands at Sh29.50 as of 0648 GMT.


Source: Standard Digital August 26, 2016 07:41 UTC



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