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Banks get eight years to hit Sh10bn minimum capital

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The proposal, if adopted in Parliament, will offer a reprieve to lenders that currently have core capital below Sh10 billion.
The Central Bank of Kenya (CBK) has granted banks an eight-year period to meet a new minimum capital requirement of Sh10 billion, as announced by CBK Governor Kamau Thugge. This decision aims to strengthen the banking sector's resilience against economic shocks and enhance its capacity to support economic growth. The phased approach allows banks to either raise additional capital or merge with others to meet the new threshold. This move is part of a broader strategy to ensure financial stability and protect depositors, especially in light of global financial trends and the need for Kenyan banks to compete internationally. The transition period is intended to minimize disruption to the banking sector while ensuring compliance with the new regulations.

Read the Full Business Daily Africa Article at:
[ https://www.businessdailyafrica.com/bd/economy/banks-get-eight-years-to-hit-sh10bn-minimum-capital-4844966 ]