The Treasury has suspended further investments in Consolidated Bank of Kenya Ltd (CBKL) pending the privatisation of the State-owned lender grappling with falling deposits, a shrinking loan book, increased impairment costs, and capital constraints.
Lawrence Kibet, the director-general in charge of public investments and portfolio management at the Treasury, said the government has not allocated funds for investment in the lender pending the transfer of its ownership to private investors.
