November 6, 2019 / 7:46 AM / 6 days ago

Kenyan bank shares up after parliament passes rate cap repeal

NAIROBI, Nov 6 (Reuters) - Kenyan bank shares gained in early trade on Wednesday after President Uhuru Kenyatta’s bid to remove a cap on commercial lending rates was passed in parliament on Tuesday, a move that could boost the flow of credit to the economy.

Equity Bank rose 4.93% to 50.0 shillings ($0.4854), while KCB Group jumped 5.97% to 53.25 shillings, Refinitiv data showed. ($1 = 103.0000 Kenyan shillings) (Reporting by Omar Mohammed; editing by Elias Biryabarema and David Evans)

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