Proceeds from the bank's third cash call in seven years will help boost its expansion into the
The publicly traded firm on Nairobi Securities Exchange said it would now proceed to seek regulatory approval from
The cash call is slated for between next month and November if approved by the CMA, the bank said, but did not disclose terms of the offer.
"If successful, the corporate bond and rights issue will help us focus on continued growth in the coming years with more focus on deal-making opportunities in
The bank previously raised 2.1 billion in
NIC's total capital to total risk-weighted assets ratio fell to 12.52 per cent in
The statutory ratio will go up to 14.5 per cent from January next year, meaning the bank has to beef it up.
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