Barclays Bank Kenya
Barclays Bank Kenya
Barclays Bank of Kenya Limited, also known as Barclays Bank of Kenya, is a commercial bank in Kenya. It is licensed by the Central Bank of Kenya.
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Barclays assures investors on NSE gold stocks after Africa unit sale
Barclays Bank of Kenya (BBK) says the sale of the lender’s Africa unit will not affect gold securities listed in the Kenyan market. Head of Markets Anthony Kirui said Thursday parent company Barclays PLC was only reducing its shareholding in Barclays Africa from 62.3 per cent to a minority stake over time. He added that since the gold stock was based on the value of real gold, it would not be affected by the fortunes of the company that issued it.
Read articleBarclays second big bank to give gloomy forecast
Barclays Bank of Kenya (BBK) has become the second lender to predict a drop in earnings this year, attributing the gloomy outlook to the interest rates cap law which has narrowed the lenders’ profit margins.
The bank has projected a drop in full-year revenue in the range of 15 to 25 per cent.
This year marks the first full 12 months under the law that caps interest rates at four percentage points above the Central Bank of Kenya signal rate.
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