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NAIROBI – Kenya’s NIC Bank said on Tuesday it had received regulatory approval for a bonus share issue of one new ordinary share for every 10 fully paid up ordinary shares.
The bank, which also operates in Tanzania and Uganda, posted an 11 percent rise in pretax profit in 2013, helped by growth in net interest income.
The new shares would be issued to shareholders on May 8, the bank said.
Cyril Ramaphosa: The Audio Biography
Listen to the story of Cyril Ramaphosa's rise to presidential power, narrated by our very own Alec Hogg.