I&M Group share rallied 66.3 percent on the Nairobi bourse on Wednesday, coinciding with the day the lender announced that its six-month net profit for the period ended June 2024 grew.

Fitch Ratings has downgraded the Long-Term Issuer Default Ratings (IDRs) of three domestically-owned Kenyan banks (KCB Bank Kenya Limited, NCBA Bank Kenya Plc and I&M Bank LIMITED) and their bank holding companies (BHCs; KCB Group PLC, NCBA Group PLC and I&M Group Plc) to 'B-' from 'B'. The Outlooks are Stable.

Kenyan stocks pared losses yesterday after a selloff rocked markets worldwide at the start of the week, with investor sentiment stabilising after a rush for exits amid fears of a US recession and signs of financial instability in Japan.

Jubilee Asset Management, a subsidiary of Jubilee Holdings, has launched a dollar-denominated fund that requires an initial minimum investment of $1,000 (Sh130,000), opening doors to retail and institutional individuals.