Kenya’s Co-operative Bank has cast a shadow of doubt over the future of its stockbroking business with news emerging that lenders who scrambled for the acquisition of stockbrokerage firms at the height of the stockmarket boom more than a decade ago are now struggling to sustain the loss-making business units.
These lenders are ABC bank which acquired 86 per cent stake in Crossfield Securities Ltd and renamed it ABC Capital in 2008 and Equity Bank, which acquired a trading licence from Juanco Investment Bank and renamed it Equity Investment Bank in the same year.
