Prime

Absa breaches lending law in Sh18.8bn loan to EABL

Absa Bank Kenya

Absa head office in Westlands, Nairobi. 

Photo credit: File | Nation Media Group

By  Victor Juma

Business Editor

Nation Media Group

Absa Bank Kenya #ticker:ABSA has lent East African Breweries Limited #ticker:EABL (EABL) a total of Sh18.8 billion, breaching the limits placed on lending to a single borrower.

The bank had a core capital of Sh46.3 billion as of June, meaning that it should not have lent more than Sh11.5 billion to one entity.

PAYE Tax Calculator

Note: The results are not exact but very close to the actual.

Get it First!

Stay up to date on the editors' picks of the week.

Latest

  1. PRIME Kenyans with over half a million in bank revealed

  2. PRIME New Bill forces banks, M-Pesa to share customer data

  3. PRIME Inside Dangote’s IPO and how Kenyans can take part

  4. PRIME Clerical jobs stage a comeback as banks expand branches

In the headlines

View All