Credit Bank targets NSE listing within three years in ambitious recapitalisation plan
Credit Bank Plc is set to seek shareholder approval for a wide-ranging capital-raising strategy at an Extraordinary General Meeting scheduled for December 19, 2025, with the ultimate goal of listing on the Nairobi Securities Exchange (NSE) within the next three years.
The lender plans a private placement of up to 45 million ordinary shares at Ksh100 each, potentially raising up to Ksh4.5 billion. Proceeds will bolster the bank’s core capital ahead of the Central Bank of Kenya’s stricter minimum capital requirements and support future growth in lending, digital banking and product innovation.
Shareholders will also vote on the creation of up to Ksh3 billion in preference shares, offering the board flexibility to secure long-term funding without immediate dilution of ordinary equity.
Additional proposals include acquiring prime Upper Hill land parcels worth up to Ksh1.2 billion through an asset-for-shares swap and issuing a US$1.5 million convertible note to ShoreCap III LP, structured to count as Tier 2 supplementary capital while providing conversion rights.
Management has committed to an NSE listing within three years as part of the investment agreements tied to the recapitalisation, a move that will widen the shareholder base, enhance corporate governance and increase market transparency.
The multi-pronged approach signals Credit Bank’s shift from compliance-driven capital strengthening to a deliberate growth strategy. Industry analysts note the plan positions the mid-tier lender favourably among peers preparing for Kenya’s evolving regulatory and competitive banking landscape.
If approved, the resolutions will provide the foundation for sustained expansion and greater visibility, offering existing and future investors exposure to one of Kenya’s proactively transforming financial institutions.