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NBK eyes Sh4bn shareholder loan to boost capital

From left: NBK chief finance officer George Kioko Mulwa, managing director and chief executive Wilfred Musau and chairman Mohamed Abdirahman Hassan during the bank's annual general meeting at the KICC on May 19, 2017. PHOTO | DIANA NGILA | NMG

By  HERBLING DAVID

National Bank of Kenya (NBK) #ticker:NBK expects to close a Sh4.4 billion shareholder loan by end of September to shore up its capital, which has remained below regulatory requirements for 15 months.

The mid-sized lender has been seeking the debt funding from its top two shareholders: National Social Security Fund (NSSF) and the Treasury, since June last year following the collapse of a planned Sh13 billion rights issue.

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