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HomeAfricaStandard Chartered Slashes Kenya Government Debt as Sovereign Risks Climb

Standard Chartered Slashes Kenya Government Debt as Sovereign Risks Climb

Standard Chartered Bank Kenya Ltd. shrunk its holdings of the East African nation’s government securities by 52% at a time when the investments are drawing attractive returns.

The huge decline came as a surprise as the lender even took a trading loss of 2.3 billion shillings ($15 million) on the investments.

Sterling Capital said in a note to clients after the bank’s nine-months earnings release.

Source: Bloomberg

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