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The Nairobi Stock Exchange (NSE) is expected to start trade on a slow note as the financial markets continue to suffer from a liquidity crunch.
On Friday, the NSE 20-share index slid further losing 18.3 points to close at 4,849.97 points.
KCB
The bourse opens after Kenya Commercial Bank announced a 69 per cent growth in profitability to Sh3.5 billion for the first half of the year.
Shareholder equity went up by 19 per cent to Sh14.2 billion from Sh11.9 billion as at June last year.
National Bank
On Thursday, the Cabinet approved a two-phase restructuring of National Bank that will see the entry of a strategic investor and off-loading of additional shares to the public.
In the first phase, the National Social Security Fund (NSSF), which has 48 per cent shareholding, will sell a 25 per cent stake to a strategic investor who will be required to strengthen the bank’s management and capital base.
The second phase will see the Government sell 17 per cent of its share and 23 per cent of NSSF shares to the public through the NSE.
Announcements
Centum Investment will close books on Thursday to prepare for a Sh0.45 dividend payout on October 16.
The market is eagerly waiting for NIC Bank and Barclays Bank to announce half-year results
