Credit Bank PLC shareholders approved a Sh4.5 billion capital‑raising plan, positioning the Tier III lender to meet the Central Bank of Kenya’s (CBK) progressive capital requirements.
The authorization was granted during an Extraordinary General Meeting (EGM) on December 19, 2025, ensuring the bank stays ahead of the Sh3 billion core capital deadline set for December 31, 2025.
“19.7 million or 99.9 percent of shareholders voted in favour,” the bank confirmed, authorizing the issue of up to 45 million ordinary shares at Sh100 each.
Innovative Asset Swap and Supplementary Capital Growth
The capital plan includes a Sh1.2 billion asset‑for‑shares swap, through which Credit Bank will acquire a prime property in Nairobi’s Upper Hill (Kiambere Road) in exchange for 12 million ordinary shares.
Backing from international shareholder ShoreCap III LP adds further resilience, with a convertible note maturing in at least five years. This qualifies as supplementary capital, offering flexibility while minimising immediate equity dilution.
Shareholder Confidence and Market Resilience
Anchor investors, including the Sansora Group, reinforced confidence ahead of the EGM. Their commitment stabilises the bank’s outlook amid non‑performing loan (NPL) pressures.
Shareholders also approved a temporary waiver of the 25% individual shareholding limit for 36 months, paving the way for impact investors to enhance capital ratios and drive digital innovation to Sh10 Billion by 2029
Credit Bank has mapped a clear trajectory to meet CBK’s statutory thresholds:
| Target Core Capital | Deadline |
|---|---|
| Sh3 Billion | Dec 31, 2025 |
| Sh5 Billion | Dec 31, 2026 |
| Sh8 Billion | Dec 31, 2028 |
| Sh10 Billion | Dec 31, 2029 |
By exceeding the 2025 requirement early, the bank avoids risks of license downgrades or forced mergers, positioning itself as a resilient player in Kenya’s consolidating financial sector.
