Switch auction involves a transaction that exchanges securities held by investors with selected bonds. The transaction is majorly used to increase liquidity in the debt securities market.
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The Monetary Policy Committee decided to raise the Central Bank Rate (CBR) from 8.25 per cent to 8.75 per cent.
An interim dividend of Ksh.6 per share declared.
• This was largely attributable to a 32% and 25.6% uptick in Non-Funded Income (NFI) and Total Interest Income.
Liquidity in the money markets tightened, with the average interbank rate increasing to 4.4% from 4.2%
Remittances represent an important source of foreign exchange and support many livelihoods.