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 […]
Lenders started the year with a lot of optimism, with banking sector analysts projecting better returns on repealed interest cap law. Almost all tier-one banks reported improved net earnings for the first quarter ended March 2020, with KCB Group for instance recording eight per cent growth to Sh6.3 billion compared to Sh5.8 billion same period […]
After helping Kenya Airways secure close to Sh80 billion in loans, the government received only Sh1 million in director fees from the cash-strapped airline in the last financial year. But this lopsided relationship is not only with the national carrier, whose financial woes were aggravated by the Covid-19 pandemic. In the 2019-20 financial year, taxpayers’ […]
National Bank of Kenya (NBK) has partnered with the National Youth Service (NYS) to plant 50,000 tree seedlings in the Tana River Basin. This was part of the Greening Kenya Initiative by the financial institution, which is a subsidiary of KCB Group . The tree planting campaign is part of government efforts to grow the […]
After helping Kenya Airways secure close to Sh80 billion in loans, the government received only Sh1 million in director fees from the cash-strapped airline in the last financial year. But this lopsided relationship is not only with the national carrier, whose financial woes were aggravated by the Covid-19 pandemic. In the 2019-20 financial year, taxpayers’ […]
After helping Kenya Airways secure close to Sh80 billion in loans, the government received only Sh1 million in director fees from the cash-strapped airline in the last financial year. But this lopsided relationship is not only with the national carrier, whose financial woes were aggravated by the Covid-19 pandemic. In the 2019-20 financial year, taxpayers’ […]
* To buy controlling stake in Banque Populaire du Rwanda * Deal will make KCB the second-biggest bank in Rwanda * To take full ownership of ABC Tanzania, eyes DRC next (Updates with value of the deal) NAIROBI, Nov 26 (Reuters) – Kenya’s top lender by assets, KCB Group, has entered a binding agreement to […]
At least seven top managers at the National Bank of Kenya #ticker:NBK including former CEO Wilfred Musau have been replaced in the wake of KCB Group #ticker:KCB acquisition of the lender. The bank says the top managers left in the middle of turnaround efforts aimed at reverting the lender to profitability. Mr Musau, appointed in […]
Close associates of former president Daniel Moi are set for an additional Sh370.85 million (1.29 billion) payout for selling a majority stake in Transnational Bank to Nigeria’s Access Bank. The Nigerian lender has revealed in regulatory filings in Lagos that the extra amount will be paid over the next two years, pushing total payout for […]
KCB currently operates in six countries and runs a representative office in Ethiopia. PHOTO | FILE | NMG KCB’s acquisition of two banks in Rwanda and Tanzania has pushed its total asset base to over Ksh1 trillion ($10 billion), creating a regional banking giant with a re-energised ambition to join the ranks of leading pan-African […]
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