NSE rebounds 0.9% after KSh 96 bln drop as NCBA posts KSh 23.4 bln profit
The NSE 25 rose 0.8671% to 5,764.0 and the NSE 20 gained 0.8925% to 3,619.84 on April 16, after a sharp selloff that wiped out KSh 96 billion on March 24, the 7th biggest daily drop since 2008, according to The Kenyan Wallstreet. Blue-chip stocks then shed KSh 200 billion in market value on March 25 amid the Iran war, Business Daily reported, marking a 22-day arc from heavy losses to a modest rebound. NCBA Group reported FY2025 net profit of KSh 23.4 billion and lifted its total dividend by 30% to KSh 7.10 per share, according to Bizna Kenya and MarketScreener, while TechTrendsKE said digital loans helped drive the result. On strategy, Nedbank visited Rwanda to advance a takeover of NCBA Bank, Kigali Today reported, preserving the conditional status of a deal still being pursued, while ALP REIT listed on March 22 as the NSE's 1st U.S. dollar-denominated security, according to Dabafinance.
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