National Bank pushes Treasury to approve its rights issue

The State-owned National Bank of Kenya (NBK) expressed optimism that the National Treasury will give a nod to its planned rights issue in the course of this year. This is to unable it increase its capitalisation levels, size of the loan book and improve on profitability.

In order to meet the new capitalisation requirements introduced by the Central Bank of Kenya (CBK), directors of the bank have decided not to declare any dividends to shareholders, for the financial year ended December 31, 2014.