Bank stocks gain Sh13.6bn after freeze of rate cap law

NIC Bank on Kenyatta Avenue in Nairobi. FILE PHOTO | NMG

Kenyan banks’ share prices rose further on the Nairobi Securities Exchange (NSE) on resumption of trade on Monday, three days after a court declared the lending rate cap null and gave Parliament 12 months to review it.

The listed 11 banking stocks made a net total gain of Sh13.6 billion in the period with NIC Bank #ticker:NIC emerging as the biggest gainer.

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