Standard Chartered Slashes Kenya Government Debt as Sovereign Risks Climb
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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.