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Positives: The new CEO’s strategy for the company has started to pay off, enabling NBK become more competitive. In the third quarter of 2013, the bank announced a net profit of Sh880.1 million compared to Sh402.3 million in a similar period a year earlier, a 118.7 per cent growth. The bank planned to open 10 branches by the end of 2013, create foreign subsidiaries and seek a larger share of the corporate debt market. It also plans to hold a Sh10 billion rights issue in 2014 to raise money to bankroll its domestic and regional expansion strategy. The bank is coming from a low base, it has a lot of upside potential
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