Stanbic Kenya Sees Ten-Fold Capital Rules Halving the Industry

Kenya’s plan to increase the minimum core capital for banks ten-fold could half the number of lenders in the East African nation, as some of these businesses merge their operations, according to Stanbic Holdings Plc.

Raising the minimum capital requirement for the country’s banks to 10 billion shillings ($77.5 million) over three years will likely halve the industry, according to Stanbic Bank Kenya Chief Executive Officer Joshua Oigara.