A general view shows the Equity Bank headquarters in the Upper Hill district of Kenya’s capital Nairobi, March 8, 2016. REUTERS/Thomas Mukoya/File Photo
NAIROBI (Reuters) – Kenyan bank shares gained in early trade on Wednesday after President Uhuru Kenyatta’s bid to remove a cap on commercial lending rates was passed in parliament on Tuesday, a move that could boost the flow of credit to the economy.
Equity Bank rose 4.93% to 50.0 shillings ($0.4854), while KCB Group jumped 5.97% to 53.25 shillings, Refinitiv data showed.
($1 = 103.0000 Kenyan shillings)
Reporting by Omar Mohammed; editing by Elias Biryabarema and David Evans