Kenya’s largest privately owned bank, CBA, today announced plans to issue a Medium Term Note to raise Kshs 8 Billion with a Greenshoe option of an additional Kshs 2 Billion.
The Medium Term Note will be
listed on the Fixed Income Securities Market Segment of the Nairobi Securities
Exchange Limited and will therefore be open to the public. The bank has received
approval from the Capital Markets Authority to issue the instrument.
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| CBA Group Managing Director, Isaac Awuondo briefing Media at CBA Headquarters |
“CBA has enjoyed robust growth
through technological innovation, regional expansion and customer acquisition
over the past five years. Our aim in raising this capital is to further this
development and venture into new Eastern African markets,” CBA Group Managing
Director, Isaac Awuondo told a media briefing in Nairobi.
The issuing of the Medium Term
Note follows the inordinate success the Bank garnered after the launch of its revolutionary
savings proposition, M-shwari in partnership
with Safaricom Ltd. This has catapult CBA to become Kenya’s second largest bank
by number of account holders.
“Investing in CBA is a profitable
venture for every institution and individual that seeks to be part of our great
vision.Being a Kenyan owned bank, we aim to source capital from local investors
only in our commitment to enhance the wealth and fulfilment of the lives of our
customers and wider community,”continued Mr Owundo.
CBA is the largest privately
–owned Kenyan bank with representation in Kenya, Tanzania and Uganda. As a bank,
CBA focuses on Corporate and Personal Banking business segments and is now
growing strongly towards focusing on innovative financial solutions targeted at
the Small and Medium Business segment.
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