Abacus Wealth Management

Keeping A Close Eye On Kenyan Banks

The performance at the Nairobi Securities Exchange ended at a slight dip on Friday with both major indices recording decreased performance. The number of shares that were traded edged up to 43.7 million compared to 35.2 million on Thursday. Market capitalization however, dipped by around KES 850 million. It was basically bad news for foreign investors, whose main focus on the securities exchange is market capitalization.

Today (and for most of the week), we shall focus on the banking sector as announcements of their results for Q3 are expected. There are 10 listed banks on the NSE so we shall examine 2 per day. For starters, we shall look at Co-operative bank and Standard Chartered, who have already made their announcements.

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