Kenya’s CBA and NIC banks have merged to form NCBA. PHOTO | FILE | NATION MEDIA GROUP Nigeria’s largest retail lender, Access Bank Plc, acquired Kenya’s Transnational Bank associated with retired President Daniel arap Moi. Kenya’s largest bank by assets — KCB Group — this year acquired capital-starved National Bank of Kenya (NBK). Commercial Bank […]
Tag: national bank of kenya
CEO exits hit eight at Nairobi listed firms
Mr Sebastian Mikosz will leave the KQ corner office in the next few days. FILE PHOTO | NMG A total of eight chief executives joined corner offices at Nairobi Securities Exchange-listed firms this year, filling vacancies that were created by various circumstances. The companies that made substantive or temporary CEO appointments include Safaricom, Kenya Airways, […]
KenolKobil tops deals in 2019
KenolKobil station in Nairobi. FILE PHOTO | NMG KenolKobil’s acquisition by French multinational Rubis Energie and the quest by top banks Equity #ticker:EQTY and KCB #ticker:KCB to expand in the region topped the chart of corporate deals in 2019, with their business impact expected to be felt from next year. Rubis completed the acquisition of […]
Rare merger wave hits local banking industry
A KCB branch in Rwanda. FILE PHOTO | NMG The year saw Kenya’s banking sector record several mergers and acquisitions and more are predicted in the next two years as capital raising options diminish for smaller struggling lenders. Nigeria’s largest retail lender, Access Bank Plc, acquired Kenya’s Transnational Bank associated with retired President Daniel arap […]
Kenya: KCB Lists New Shares On the NSE in NBK Kenya Take-Over
Nairobi — KCB Group Plc has listed an additional 142,979,717 shares at the Nairobi Securities Exchange (NSE) following the successful acquisition of the National Bank of Kenya (NBK). Effectively, NBK shareholders who swapped their shares for those of KCB will now be able to freely trade the new stocks at the bourse. KCB got consent […]
How investors can value KCB stock post-National Bank deal
A KCB Group branch in Kigali, Rwanda. FILE PHOTO | NMG There is no doubt KCB now firmly controls National Bank of Kenya (NBK) as a subsidiary business. The final touch to this transaction was the listing of additional 143 million KCB Group shares, on October 4, 2019, at the Nairobi Securities Exchange, being the […]
Atwoli out after 16 years as KCB names new National Bank board
COTU boss Francis Atwoli. FILE PHOTO | NMG KCB Group has sent home nearly the entire former board of National Bank of Kenya (NBK) in a reshuffle, weeks after formally acquiring the troubled lender. The country’s largest bank has consequently tapped NSSF board of trustees chairman and ex-KDF boss Julius Karangi and Treasury’s acting director […]
CMA to name and shame listed firms that fail to live by rules
Nairobi Securities Exchange. FILE PHOTO | NMG The Capital Markets Authority (CMA) will from next year name and shame listed firms that breach set boardroom rules and corporate governance standards in a move meant to cut the risk of loss for investors. The regulator says that exposing the errant firms will help bridge compliance gaps […]
Kenya: How National Bank Was Brought to Its Deathbed
After 50 years of a troubled run, the National Bank of Kenya, as we knew it, has come to an end. In between, it was a citadel of thieves and charlatans and a case study of how to bring down a bank. Once upon a time, the politically correct would walk into the bank and […]
NBK returns to profit on higher interest income
NBK Chairman Mohamed Abdirahman Hassan (left) and CEO Wilfred Musau during the bank’s AGM in Nairobi on June 14. FILE PHOTO | NMG The National Bank of Kenya (NBK) #ticker:NBK has jumped back from the red to post a Sh150 million net profit in the half year ended June 2019 from a Sh282.7 million loss […]