KCB chief executive Joshua Oigara. FILE PHOTO | NMG KCB Group #ticker:KCB will take over about Sh4 billion of the Sh53 billion outstanding deposits in the defunct Imperial Bank after completing due diligence on the lender, leaving the heavier burden on the State-run deposits insurer. Chief executive Joshua Oigara said on Thursday that the bank’s […]
Tag: national bank of kenya
NSE profit falls 82pc on sluggish trade
The Nairobi Securities Exchange. FILE PHOTO | NMG The decline in trading at the Nairobi bourse has hurt earnings of the Nairobi Securities Exchange (NSE) #ticker:NSE, which plunged 82 percent from Sh133 million as at June 2018 to Sh24 million in the first half of this year. The NSE says that bond turnover in the […]
MPs ask Treasury to reject KCB’s offer to takeover National Bank
A branch of the National Bank of Kenya. PHOTO | FILE | NATION MEDIA GROUP The recommendation against the move is by the Finance and National Planning Committee, chaired by Kipkelion East MP Joseph Limo, that has been investigating the proposed acquisition. The committee has recommended that NBK’s principal shareholders – the National Treasury (22.5 […]
KCB to close NBK and Imperial deals in two weeks time
Kenya Commercial Bank Group plans to complete the acquisition of collapsed Imperial Bank by end of this month, the chief executive Joshua Oigara has said. “The deal will go on despite the ongoing restriction,” Oigara said during the release of the group’s half year 2019 results. The transaction, in which the lender will pay a […]
UPDATE 2-Kenya’s KCB Group confident of sealing NBK deal as H1 rises
(Recasts with impact of NBK acquisition) NAIROBI, Aug 15 (Reuters) – Kenya’s biggest lender by assets KCB Group is confident of sealing its takeover offer of National Bank of Kenya to increase its market share, its chief executive said after reporting a 5% rise in first-half profit. Lenders in the East African nation have turned […]
Who Owns Kenyan Banks?
Banking in Kenya dates back to the pre-colonial periods. The first banks largely concentrated on financing international trade along the Europe-South Africa–India axis, but later diversified operations to tap the opportunities for profitable banking created by a growing farming settler community and pioneer traders in the local economy to whom they provided deposit and credit […]
Kenyan bank KCB Group H1 profit rises, parks more money for bad loans
NAIROBI- KCB Group, Kenya’s biggest lender by assets, on Thursday posted a 5% rise in first-half pretax profit boosted by growth across segments, and said it set aside more money to cover bad loans. The bank, which posted a pretax profit of 17.93 billion shillings ($173.82 million), said in a statement it boosted its provisions […]
Kenya: NBK Sinks Into Sh282.7 Million Half Year Loss on Reduced Income
National Bank of Kenya has posted a Sh282.7 million loss in half year ended June 2018, a decline from Sh179.8 million profit booked at a similar period last year. The six-month loss was on account of reduced interest and non-interest income as the bank remained in breach of three capital ratios as required by Central […]
National Bank sinks into loss of Sh282m
Picture of National Bank banking hall Harambee Avenue branch taken on 1st September 2015 . [PHOTO:WILBERFORCE OKWIRI] National Bank of Kenya and mortgage financier Shelter Afrique are the first lenders to post losses in the six months to June this year. ALSO READ: Court fails to lift order barring ex-NBK bosses from holding office NBK […]
Kenya’s National Bank dives into Ksh282.7 million loss in six months
NAIROBI, AUGUST 22 ― The National Bank of Kenya has reported a Ksh282.7 million loss for the year to June 30, 2018 as the lender recorded lower interest gains from its shrinking loan book and other investment areas. NBK’s loss is a nose dive from the Ksh179.8 million profit it posted in a similar period […]