October 30, 2019 / 7:12 AM / 16 days ago

Kenyan bank shares surge after house panel embraces rate cap repeal

NAIROBI, Oct 30 (Reuters) - Kenyan bank shares surged in early trading on Wednesday after parliament’s finance panel asked the house to repeal a cap on commercial lending rates.

Co-op Bank led the gains, jumping 10.0% to 12.50 shillings per share while shares in Equity Bank rose to 8.64% to 40.50 shillings ($0.3924) each, Refinitiv data showed.

$1 = 103.2000 Kenyan shillings Reporting by Duncan Miriri Editing by Maggie Fick

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