Credit Bank is seeking shareholder approval for a significant capital raise amounting to Sh4.5 billion through a private placement. This initiative aims to strengthen the bank's balance sheet and expand its operational capabilities.

• The private placement involves issuing 45 million new ordinary shares to existing shareholders and qualified investors.
• Credit Bank is also seeking approval to issue Sh3 billion in preference shares and endorse a Sh1.2 billion asset-for-shares swap.
• An Extraordinary General Meeting (EGM) is scheduled for December 19 to vote on these proposals.