From left: Kenya Mortgage Finance Company (KMRC) Head of Risk and Compliance Florah Muthaura, IFC Business Development Lead for Financial Institutions East Africa Jes Chonzi, KMRC CEO Johnstone Oltetia, IFC Manager for Sub-Saharan Africa Gokhan Kont, KMRC Head of Legal Services Elisha Nyikuli and Head of Credit Geofrey Mwaura during a business meeting to discuss […]
GREENVILLE, S.C., Jan. 03, 2022 (GLOBE NEWSWIRE) — United Community Banks, Inc. (NASDAQ: UCBI) (United) has completed its merger, effective January 1, 2022, with Reliant Bancorp, Inc. (NASDAQCM: RBNC) (Reliant), including its wholly-owned subsidiary, Reliant Bank, which was merged with and into United’s bank subsidiary, United Community Bank, and will now operate under the United […]
Housing Finance Group #ticker:HFCK has narrowed its net loss by 22 percent to Sh569.91 million in the nine months to September, helped by growth in non-interest income and a drop in operating expenses. The Nairobi Securities Exchange-listed firm had posted a net loss of Sh730.21 million in the same period last year. The mortgage financier […]
Mortgage centered lender Housing Finance Group (HF) has seen its half year loss expand by 17 per cent to Ksh.346.1 million from a loss of Ksh.295.5 million last year. The widened loss is largely attributable to the bank’s falling income with total operating income in the period easing by 7.7 per cent to Ksh.1.2 billion. […]
United Community Banks, Inc. and Reliant Bancorp, Inc. announced Wednesday the execution of a definitive merger agreement pursuant to which United will acquire Reliant, and its wholly-owned subsidiary, Reliant Bank, in an all-stock transaction with an aggregate value of approximately $517 million, or $30.58 per share of Reliant common stock, based on United’s closing stock […]
United Community Bank branch on Augusta Street in Greenville. Photo provided United Community Banks announced on Wednesday, July 14 it will acquire Reliant Bancorp and its subsidiary Reliant Bank. The transaction value is worth $517 million. Headquartered in Brentwood, Tennessee near Nashville, Reliant was founded in 2006 by DeVan Ard, Jr. The bank has a […]
Britam Holdings has reported a net loss of Ksh. 9.1 billion for the financial year ended 31st December 2020. The financial services provider firm attributes this depressed financial performance to poor returns from investments in its associate Housing Finance Group and investment losses in Wealth Management Fund. Investment losses in Wealth Management Fund LLP amounted […]
The Housing Finance premises Mortgage lender Housing Finance Group’s net loss widened to Sh1.7 billion in the year ending 2020. This was an increase of 1,450 per cent compared to a loss after tax of Sh110 million that the mortgage lender posted in 2019. This follows a tough operating environment for the listed lender that […]
The board of directors for Invest Atlanta ‘s housing finance group last week voted to issue up to $29.5 million in tax-exempt bonds to help finance part of Flats at Stone Hogan , an over 700-unit mixed-income community planned for the Greenbriar neighborhood. The financing will go toward the first 256 units of the project, […]
Britam Group Managing Director Benson Wairegi. [Wilberforce Okwiri, Standard] If it is lonely at the top, then Benson Wairegi has endured a long streak of loneliness. And now, after 38 years of occupying the corner office at Britam, Wairegi will be climbing down from the ‘cold room’ currently domiciled on the 29th floor of Britam […]
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