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

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NAIROBI (Reuters) – 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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Godwin Okafor is a Financial Journalist, Internet Social Entrepreneur and Founder of Naija247news Media Limited. He has over 16 years experience in financial journalism. His experience cuts across traditional and digital media. He started his journalism career at Business Day, Nigeria and founded Naija247news Media in 2010. Godwin holds a Bachelors degree in Industrial Relations and Personnel Management from the Lagos State University, Ojo, Lagos. He is an alumni of Lagos Business School and a Fellow of the University of Pennsylvania (Wharton Seminar for Business Journalists). Over the years, he has won a number of journalism awards. Godwin is the chairman of Emmerich Resources Limited, the publisher of Naija247news.

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