Connect with us

General News

Consolidated Bank seeks investor to inject Sh3.5 billion :: Kenya



Consolidated Bank said on Monday it was seeking an investor, either foreign or local, to inject Sh3.5 billion as part of its balance sheet reorganisation.


Uhuru defends Awori’s appointment after public outcry

In a statement published in local newspapers, the state-owned bank asked investors to send in their prequalifications as a first step by January 9, 2019.

In late November, Consolidated Bank said it had given its directors permission to allot up to Sh3.5 billion in new preference shares to an unidentified investor and that the reorganisation of its balance sheet was a precursor to privatisation at a later date.

The bank has 17 branches and assets of over Sh12.5 billion.

The National Treasury owns 85.8 percent of the bank, with the rest of the shares held by other government agencies.

Stay informed while on the go by subscribing to the Standard Group SMS service. Text the word ‘NEWS’ to 22840.

Would you like to get published on Standard Media websites? You can now email us breaking news, story ideas, human interest articles or interesting videos on:

Source link