BLOOMBERG KCB Group Plc shares plunged on Thursday, heading for the lowest level since August 2020 after Kenya’s second-largest bank announced it was cutting its proposed dividend. The Nairobi-based lender posted 19% growth in net income to 40.6 billion shillings ($312.6 million) for last year, but the decision to lower the payout to 2 shillings per unit from 3 shillings …

BLOOMBERG The European Central Bank (ECB) went ahead with a planned half-point increase in interest rates but offered few clues on what may follow amid market turmoil that roiled Credit Suisse Group AG. The deposit rate was lifted to 3% on Thursday — as officials have been flagging since their last meeting six weeks ago and as the majority of …

BLOOMBERG Vietnam’s central bank unexpectedly cut the rate at which it lends to banks, underscoring the need to support the economy amid a bleak global outlook and slowing domestic demand. The State Bank of Vietnam reduced the discount rate to 3.5% from 4.5%, according to a statement on its website. The authority also reduced the overnight lending rate in the …