(Ecofin Agency) - The asset management department of the National Bank of Kenya (NBK) generated Ksh2.5 billion between 2015 and 2019, some Kenyan media indicated. However, there is no detail about how the department generated such volume.
Let’s note that NBK is not the only bank to show some interest in its premium clients. In 2018, the local subsidiary of Standard Chartered Bank also opened premium agencies for the wealthiest in the country.
According to a report published in 2018 by Singaporean Wealth-X, Kenya is the fourth country in the world and the first in Africa where the number of people with at least $30 million of personal wealth is growing rapidly.