Nairobi, May 6 : Access Bank Kenya and Consolidated Bank face the toughest road to meet Kenya’s revised core capital requirement of Sh10 billion by 2029, starting from below even the existing Sh1 billion minimum.
Consolidated Bank, weighed down by accumulated losses of Sh4.45 billion, had a negative core capital of Sh731 million as of December 2024 and must raise Sh4 billion by the end of 2025 to hit the first capital threshold of Sh3 billion.
It is planning a rights issue, though doubts persist given Treasury’s previous failure to inject funds despite backing the bank.
Access Bank Kenya, a Nigerian multinational’s local subsidiary, posted a Sh1.2 billion loss last year, eroding its capital base to Sh152 million.
The Central Bank’s new directive, phased over five years, is pushing all banks to raise capital — from Sh3 billion in 2025 to Sh10 billion by 2029 — to bolster the sector’s stability.
