National Bank of Kenya has reported a Ksh. 177 Million profit after tax for the year ended December 31, 2020. This represents a 167% growth from the previous year when the bank reported a loss. This rise in profitability was driven by driven by an increase in loan volumes and lower operating costs. interest income […]
NBK Managing Director Paul Russo National Bank of Kenya (NBK) has posted Sh177 million in profit after tax for the year ending December 31, 2020. This represents a 167 per cent growth from the previous year, driven by an increase in loan volumes and lower operating costs, even as the Bank battled the impact of […]
KCB Group’s subsidiary- the National Bank of Kenya (NBK) has rallied back into profitability for the full year period ending in December 2020 as its business turnaround continues. The lender acquired by KCB in 2019 has posted a Ksh.177.7 million profit in the period reversing a Ksh.337 billion loss booked a year earlier. The improved […]
KCB Group #ticker:KCB will provide an additional capital injection of Sh3 billion to National Bank of Kenya (NBK) in the coming days, with the cash going to help the subsidiary comply with minimum capital requirements. NBK has continued to breach statutory capital levels despite receiving the initial capital support of Sh5 billion from KCB in […]
As the prospects of an economic recovery begin to take shape, there is a deep desire among Kenyans to rebuild wealth in the new economy. For many, there is a great need to diversify beyond the traditional assets and venture into new areas. Most Kenyans will fondly remember with great nostalgia Safaricom’s Initial Public Offer […]
NSE Chief Executive Geoffrey Odundo. [David Gichuru, Standard] After four years, Homeboyz Entertainment seems to have ended the listing drought at the Nairobi Securities Exchange (NSE), becoming the first entertainment firm to join the bourse. The listing by way of introduction came through the Growth Enterprise Market Segment (Gems). Gems was set up in 2013, […]
Kenya Commercial Bank branch in Nairobi. FILE PHOTO | NMG National Social Security Fund (NSSF) has purchased an additional 8.55 million shares in KCB Group , raising its stake in the country’s biggest bank to 7.99 per cent. Latest disclosures shows that the state-controlled pension fund closed last month with 256.903 million shares in KCB, […]
(Adds details, background) NAIROBI, April 30 (Reuters) – Kenya’s Equity Group Holdings said on Tuesday it was in discussions with London-listed financial services firm Atlas Mara Limited about acquiring stakes in banks in Rwanda, Zambia, Mozambique and Tanzania. Equity’s announcement marks the third major deal among lenders in Kenya since the government capped commercial lending […]
Former Head of Mission of the League of Arab States has been awarded Sh2 million as compensation for discrimination by a local bank. Justice Weldon Korir (pictured) in a landmark judgment ordered Gulf African Bank to pay Mustafa Abdulrahman Khogali Sh2 million after finding that the lender closed his bank account on the account of […]
Mr Paul Russo. FILE PHOTO | NMG National Bank of Kenya (NBK) and Costa Homes yesterday launched an off-plan housing development account where buyers’ funds will be held until delivery of their completed units. NBK managing director Paul Russo said the savings plan seeks to eradicate instances where developers use pre-sale funds for development of […]
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