KCB Group is set to inject up to 3 billion of additional capital into National Bank of Kenya to aid the subsidiary comply with capital requirements and expand its business.
NBK remains in breach of Capital adequacy ratios even after receiving 5 Billion capital support from last year December.
“When we acquired NBK,we estimated we will provide the subsidiary with capital of 7.5 billion to Kshs 8 Billion”KCB CEO Joshua Oigara said.
Oigara added that they will soon give the balance of Sh 2.5 Billion to Sh 3 Billion adding that the cash could be emitted by the end of June.
Oigara said that the actual capital support to NBK will depend on several factors including the subsidiaries ability to recover bad loans.