for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up
Financials

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)

for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up