The Central Bank of Kenya (CBK) has written to the 24 banks whose core capital falls below Sh10 billion, asking for details on how they intend to raise new funds to satisfy the recently enhanced minimum capital adequacy level.
The Business Laws (Amendment) Act, 2024, which was signed into law last December, requires banks to increase their minimum core capital from Sh1 billion to Sh10 billion over the next five years.
