Kenya Commercial Bank hits $1bn mark

by Richard Kilner

Story link: Kenya Commercial Bank hits $1bn mark

Kenya Commercial Bank, listed on the Nairobi Stock Exchange, has hit the US$1bn mark for capitalisation.

It becomes only the fifth listed business in Kenya to reach the milestone.

Martin Oduor-Otieno, the group chief executive of the KCB, ascribed the triumph to the continuous growth that had been attained by the firm which has consistently bolstered its share price on the NSE.

Year on year comparisons for the first quarters of 2007 and 2008 revealed a surging rise of 62% from KSh1.1bn to KSh1.65bn.

The KCB has now joined the big league in global terms of capital markets, according to Faida Investment Bank’s director of corporate finance David Mataen.

Mataen went on to say that if more Kenyan firms can emulate the KCB’s success then Kenya’s attractiveness as a place of global capital investment will only increase.