Locals tighten grip on KCB as foreigners sell Sh11bn shares

Foreign investors have sold Sh11.34 billion shares in KCB Group

in the last two and half years, cutting their stake to a low of 16.36 per cent as local institutional investors tightened grip on Kenya’s top lender.

The bank’s latest shareholder profile dated June 2020 shows that foreign investors now hold 525.59 million shares.

This is in contrast with the 896.79 million shares or 29.25 per cent of the total that were in the hands of foreigners at the end of December 2017.

The latest profile shows that foreigners now hold the smallest stake in KCB after local institutional investors (37.48 per cent), local individuals (26.4 per cent) and National Treasury (19.76 per cent).

The structure differs with that of end of 2017 when foreigners were the top shareholders. Read more

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