Absa Bank Kenya received Sh6.17 billion ($50 million) subordinate loan from its South Africa-based parent company to boost its capital and meet strategic investments in new business lines in the year ended December 2022.
The listed lender revealed that it received other loans from the parent including a $50 million loan in 2020 and a USD 25 million in 2019, raising its borrowing to Sh19.7 billion at the end of last December from Sh8.5 billion in 2021.
