Jamii Bora Bank has been renamed to Kingdom Bank Limited after acquisition by Co-operative Bank. PHOTO | DIANA NGILA | NATION MEDIA GROUP Jamii Bora Bank has been renamed to Kingdom Bank Limited and a new chief executive officer appointed in major changes by Cooperative Bank of Kenya which has acquired a controlling stake worth […]
Tag: cic insurance group
Co-op Bank completes 90 per cent acquisition of Jamii Bora Bank
Jamii Bora Bank will now operate as Kingdom Bank Limited. The Co-operative Bank of Kenya Limited (Co-op Bank) has completed acquisition of 90 per cent of Jamii Bora Bank. The former Jamii Bora Bank has changed its name and will now operate as Kingdom Bank Limited. The acquisition On March 10, 2020, Co-op Bank published […]
Jubilee half year profit holds firm at Sh1.8bn
Jubilee Holdings Chairman Nizar Juma. FILE PHOTO | NMG Jubilee Holdings #ticker:JUB half-year net profit unchanged at Sh1.8 billion, defying a trend where insurers have posted losses or drop in profits in the wake of Covid-19. The regional underwriter said the stable performance was due to improved insurance underwriting results from all of its operations […]
Insurers won’t pay all Covid hospital bills in about-turn
A patient undergoes a coronavirus test at the Kenya Coast National Polytechnic in Mombasa on June 26. PHOTO | KEVIN ODIT | NATION MEDIA GROUP Ironically, the said public hospitals are almost full with most of them not conducting Covid-19 testing. The government has a task to increase the number of testing facilities accessible to […]
CIC makes Sh336m loss in six months
CIC Insurance Group Patrick Nyaga (left) having a word with Co-op Bank Chief Executive Gideon Muriuki at a past event. FILE PHOTO | NMG CIC Insurance Group made a Sh335.5 million net loss in the half year ended June, reversing a net profit of Sh20.9 million the year before. This came as investment income fell […]
Nairobi Securities Exchange reviews NSE 20 share index
Nairobi securities Exchange (NSE) trading floor (BEVERLYNE MUSILI) NAIROBI, KENYA : The Nairobi Securities Exchange has reviewed the constituent counters of its NSE 20 and 25 Share Index, with effect from April 3. The review of the NSE 20 share index incorporates the inclusion of Kenya Reinsurance Corporation Limited, NIC Group Plc and Nairobi Securities […]
Here Are The Top 5 Gainers, Losers And Movers On Thursday
The top five gainers of the day at the Nairobi Securities Exchange (NSE) on Wednesday were I & M Holdings, Barclays NewGold ETF, East African Breweries Limited, Britam Holdings, and Total Kenya. I & M Holdings gained 3.89 percent at the price of 46.75 shillings per share followed by Barclays NewGold ETF with a gain […]
Kenya: Insurers Won’t Pay All Covid Hospital Bills in About-Turn
Kenyan insurers have made an about-turn on paying Covid-19 bills in what has left hundreds of patients in hospitals high and dry. When Kenya announced its first case of coronavirus in March, the Insurance Regulatory Authority (IRA) said it had met with players in the industry and agreed to cover bills for patients despite the […]
Longhorn Publishers Ends Wednesday As Top Gainer At The NSE
The top gainer of the day at the Nairobi Securities Exchange (NSE) on Wednesday was Longhorn Publishers with 8.41 percent at the price of 4.90 shillings per share. Sanlam Kenya was the top second gainer of the day with 7.69 percent at the price of 14.00 shillings per share followed by Standard Group with 6.90 […]
Co-op Bank Acquires Jamii Bora Bank
Co-operative Bank Branch Along Kenyatta Avenue in Nairobi. Monday, October 21, 2019. The Co-operative Bank of Kenya on Wednesday, July 1, completed a move to expand its customer base after spending Ksh1 billion to acquire 90% of Jamii Bora Bank. In a statement to newsrooms, the bank disclosed that the deal was sealed during an […]