Kenyan bank shares fell sharply at the start of trade on Thursday after the country’s president signed a law capping commercial banks’ interest rates.

Shares in KCB Group, which operates Kenya’s biggest bank by assets, fell 9.9 per cent to trade at Ksh29.50 ($0.2912) per share. Shares in Co-operative Bank of Kenya and Equity Bank were down by a similar margin. Traders said there were millions of shares on offer without matching bids.



 

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