Step-By-Step Guide: How to Buy KCB Bank Shares
Want to invest in KCB shares? Well, KCB bank is among the most valuable companies you invest in locally (You can expect favorable dividends and growth in price over time thanks to the bank’s strong fundamentals).
Read on to learn how to buy KCB bank shares through a stock broker /online.
How to buy KCB Bank Shares (procedure)
Let’s begin with where to buy: so, where do you buy KCB bank shares?
Answer: The NSE (Nairobi Securities Exchange)- like other shares in Kenya, KCB bank shares are listed publicly on the NSE so you can buy/sell them via the NSE.
Requirements to buy KCB shares in the bank
The most important thing is a CDS(Central Depository System) account (it’s simply an electronic account that will be holding your shares).
If you don’t know how to open a CDS account, follow the steps below:
How to open a CDS account
Just visit any CMA-licensed stock broker with your national ID, 2 passport-sized photos, and KRA pin(some brokers ask for your bank statememt or utility bill) and they will open an account for you.
A word on using a stockbroker
Needless to say, if you’d rather use a broker to buy the shares, you have to pay for the service (but nothing is charged to open a CDS account).
Importantly, make sure you use a registered broker –and there are over 20 licensed stockbrokers in Kenya.
How to buy KCB shares
The next step is to fund your CDS account (You will buy shares using this account hence there should be money in it).
Now, you can put money in your CDS account either by transferring directly from your bank or via Mpesa (ask your broker for the Paybill number- remember to enter your CDS account number as the account number).
How to buy KCB bank shares
Next, you have to make an order through your stockbroker (or via the online trading app your stock broker provides, if you prefer buying online).
Keep in mind that you can make either a:
- Market order – your stockbroker/you will purchase the shares immediately at the current market price OR
- Limit order – limit orders restricts anyone from purchasing KCB shares until a particular buying price is reached in the market.
Side note: The least quantity of KCB shares you are allowed to buy is 100 (you order in 100’s so you can order 100 shares or 200, 300, 400…..in that sequence).
That’s all- your stock broker should now execute your order so wait for the KCB shares you have just bought to reflect in your CDS account in about 2 days (maximum).
A word on buying KCB Shares Online
Trading KCB shares online is easy-peasy and a good option if you’re super busy.
All you have to do is log into the online trading platform /app your broker provides and make the order.
The best part?
You can fund your CDS online from your registered bank account or via MPESA.
- Log into the Online NSE shares trading up
- Add funds to your CDS account
- Click buy Shares
- Select KCB shares
- Enter the quantity you need and set your preferred price limit.
- Confirm your order.
Again wait for the execution of the order.
Buying KCB Shares using your bonga points (Ksh1/5 bonga points).
If you want to buy KCB shares using Bonga, here are the brokers you can go through:
- NCBA Capital
- Faida Investment Bank
- ABC Capital
- Kingdom Securities.
- Old Mutual Securities
- Francis Drummond &Company
- Suntra Investment Bank
- Dyer& Blair Investment Bank
- Sterling Capital.
How to redeem your Bonga points
Below is the process of redeeming the bonga points (to buy shares):
- Dial *126#
- Choose ‘Lipa-na-Bonga’ menu
- Select ‘Paybill’
- Choose ‘Enter Business Number’
- Type the Paybill number your stock broker gave you then press ‘OK’
- Type your CDSC account no. in the account field then ‘OK’
- Type the amount you’d want to send to your CDS account in Kshs. then select send.
How to buy shares in KCB bank – Frequently asked questions (FAQs)
How can I buy KCB shares?
As seen above, you go through your stock broker (remember some banks are also authorized to offer stock brokerage services so you can go through your bank, if it is a licensed stock dealer)
You can also buy KCB shares online via the app/online trading forum run by your broker.
For any further clarification on how to buy KCB bank shares, you can contact your preferred stock broker online or physically.
They will guide you every step of the way.