Updated Tue, August 16th 2016 at 00:00 GMT +3PHOTO: COURTESYCfC Stanbic Holdings’ investment arm, SBG Securities, has reported net profits of just Sh2.3 million, down from Sh132 million. You should all be aware,” Mr Mwebesa told investors at Nairobi’s Serena Hotel on the day CfC Stanbic Holdings was releasing its half-year performance. If we could extend that to July, the market has actually shrunk by 47 per cent,” added Mwebesa. Last year, the firm sold its holdings in NSE, helping it book a one-off gain of Sh64 million. According to Mwebesa, the poor run at the NSE saw investors shift their money from equities to fixed income and cash deposits, which provided more attractive yields.

Source: Standard Digital August 15, 2016 19:07 UTC