NCBA (NIC and CBA merger) add shares on Nairobi Stock Exchange

NCBA Group, an amalgamation of NIC Group and Commercial Bank of Africa, yesterday listed 793.8 million new shares at the Nairobi bourse, further cementing the merger. The newly entity officially began operating as one on October 1, after Central Bank of Kenya gave the green light on September 27. Given NIC Group initially had 703.9 […]

KCB Group lists more shares at NSE to fundraise for expansion

KCB Group Plc on Friday listed an additional 142,979,717 shares at the Nairobi Securities Exchange (NSE) following the successful acquisition of the National Bank of Kenya (NBK). The additional stock now pushes the lender’s shares to 3,209,043,204, further cementing its position as the biggest bank in terms of market capitalization at the Nairobi bourse. KCB […]

S&P affirms Ecobank B/B rating with stable outlook

We expect Ecobank group’s pan-African reach and stable operating conditions to support its revenue growth prospects. Although we see risk in the group’s high double leverage, there is adequate liquidity at the holding company level. Notwithstanding its weaker financial performance, we continue viewing Ecobank Nigeria Ltd. as core to the group’s strategy. We are therefore […]

Kenya Bankers warn that interest rate cap continues to dampen profitability, and may push some to the rocks, KBA

Growth in earnings by commercial banks will soon grind to a halt under prevailing macro-economic conditions, the Kenya Bankers Association (KBA) has warned. Though a majority of lenders have continued to churn out a profit under the interest rate capping bottlenecks, KBA terms the underlying growth elements as unsustainable in the long-run. Commercial banks have […]

GTBank, Equity feted for excellence at EuroMoney Africa awards

Nigeria-headquartered Pan-African lender GTBank with four Kenyan branches and subsidiaries in Uganda, Tanzania and Rwanda last week emerged the overall best bank in Africa and Nigeria. KCB and Equity groups were among seven financial institutions with Kenyan operations feted for best practices in service offerings at the just concluded EuroMoney Africa Awards for Excellence. KCB […]