Co-operative Bank to receive KSH10.7 billion loan

Co-operative bank is set to receive a Sh10.7 billion loan from the International Finance Corporation (IFC).The loan, which is awaiting approval, will have a maturity period of seven years with a two-year grace period on principal repayment. This is a move to comply with new regulations that require Kenyan banks to raise their core capital to Sh1 billion.