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Banks raise NSE wealth share to record 42.5pc on bull run
Family Bank Founder T.K. Muya (third left) rings the bell joined by Family Bank Chair Lazarus Muema (left), CBK Chair Andrew Musangi, NSE Chair Kiprono Kittony, Family Bank CEO Nancy Njau during the bank’s listing on the NSE by way of introduction where the shares opened trading at Ksh.22.58 per share above the introductory price of KES 18.00.
The share of investor wealth at the Nairobi Securities Exchange (NSE) concentrated on the banking segment has climbed to a record 42.5 percent after a price rally in the past year and the addition of Family Bank through a new listing.
Banking stocks are now collectively valued at Sh1.56 trillion, having seen their value rise by 70.4 percent from Sh913.4 billion a year ago. They have raced past Safaricom, which is now valued at Sh1.32 trillion.
