Co-operative Bank of Kenya will buy 90% of micro lender Jamii Bora Bank and the deal will complete this month, the country’s central bank said on Friday, marking further consolidation in the East African nation’s banking industry. Co-op Bank’s takeover of Jamii Bora was first announced in March and the deal is due to complete […]
NAIROBI, Aug 7 – Co-operative Bank of Kenya will buy 90% of micro lender Jamii Bora Bank and the deal will complete this month, the country’s central bank said on Friday, marking further consolidation in the East African nation’s banking industry. Co-op Bank’s takeover of Jamii Bora was first announced in March and the deal […]
Investors at the Nairobi Securities Exchange (NSE) will have to wait longer to know the fate of their funds locked in firms suspended from trading. According to the Capital Markets Authority’s (CMA) quarterly report for the three months ending June this year, a total of six companies out of the 64 listed ones remain suspended […]
What you need to know: For Alois Chami, a vocal and self-taught investor who joined the Nairobi bourse in 1973, he had one strategy: spread risks across all counters. But now he says for many of his counters, waiting for dividends has become like watching the grass grow; sometimes it withers. And now investors are […]
Investors at the Nairobi Securities Exchange (NSE) will have to wait longer to know the fate of their funds locked in firms suspended from trading. According to the Capital Markets Authority’s (CMA) quarterly report for the three months ending June this year, a total of six companies out of the 64 listed ones remain suspended […]
What you need to know: KCB, the country’s biggest bank by assets, made a net profit of Sh7.5 billion down from Sh12.7 billion the year before, citing loan defaults due to Covid-19 impact. The CEO Joshua Oigara speaks on the bank’s outlook. KCB Group’s net earnings dropped by a staggering 40.4 percent in the half […]
Equity Group Holdings has acquired a majority stake in a Congolese bank at a cost of Sh10.3 billion as the race to the pinnacle of Kenya’s banking sector intensifies. In a public announcement, Equity Group CEO James Mwangi ( pictured ) said yesterday the lender had reached an agreement with George Forrest and met all […]
Nairobi — National Bank of Kenya (NBK) has posted Sh186million in profit before tax for the first half of the year ending June, representing a 62 percent increase from a similar period last year. The Bank’s performance, despite the effects of the COVID-19 pandemic, was driven by a growth in the loan book and enhanced […]
NAIROBI, Kenya, Aug 12 – National Bank of Kenya (NBK) has posted Sh186million in profit before tax for the first half of the year ending June, representing a 62 percent increase from a similar period last year. The Bank’s performance, despite the effects of the COVID-19 pandemic, was driven by a growth in the loan […]
NBK has taken measures to cushion customers from negative impacts of the pandemic. This includes restructuring customer loans, in addition to suspending listing on the credit reference bureau and waiver of fees charged on use of digital channels. National Bank of Kenya (NBK) has posted Kshs. 186 million in profit before tax for the first […]
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