Lenders started the year with a lot of optimism, with banking sector analysts projecting better returns on repealed interest cap law.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 […]
Overview of Mergers and Acquisitions Activity in Kenya Kenya has experienced a substantial increase in Mergers and Acquisitions (“M&A”) activity in recent years. The Deal Drivers Africa Report, published by Mergermarket, ranks Kenya among Africa’s most sought-after country for M&A transactions. Additionally, until the onslaught of the COVID-19 pandemic, M&A activity in the East Africa […]
Nairobi securities Exchange (NSE) trading floor (BEVERLYNE MUSILI) NAIROBI, KENYA : The Nairobi Securities Exchange has reviewed the constituent counters of its NSE 20 and 25 Share Index, with effect from April 3. The review of the NSE 20 share index incorporates the inclusion of Kenya Reinsurance Corporation Limited, NIC Group Plc and Nairobi Securities […]
New cost cutting measures Kenyatta family owned NCBA bank closes down 14 branches as it seeks to cut down costs during Covid19 crisis NCBA, a bank owned by President Uhuru Kenyatta and his family has permanently shut down 14 branches as it seeks to cut operational costs amid the effects of the coronavirus. The company […]
NCBA Bank Kenya PLC designate chairman Isaac Awuondo and group MD John Gachora The NCBA Group Plc (NCBA) net profit has grown by 20 percent to Sh1.63 billion for the quarter ended March 31, 2020. The merged entity between NIC Bank and CBA Bank reported Sh1.29 billion in profits after tax in Q1 2019. NCBA […]
NCBA Group Managing Director, John Gachora The NCBA Group PLC (NCBA) has recorded a pre-tax profit of Ksh. 2.4billion for the quarter ending March 31, 2020. Total operating income for the quarter was Ksh. 10.9billion and profit after tax was Ksh. 1.6billion. “The year started strong with promising growth driven by the optimisms in the […]
NIC Bank Kenya PLC, today announced that it has successfully transformed multiple banking processes, using Newgen’s Business Process Management based banking solutions. With its focus on innovation and customer service excellence, the bank has streamlined its processes which has led to an increase in productivity by 90%, reduction in turnaround time by 65% and operational […]
In this interview, The Banker reporter Francis Kajubi talks to NIC Bank Tanzania Limited, acting Managing Director, Mick Karima who addresses the subject and many others, excerpts: Several commercial banks in the country have recently started lowering interest rates on loans to as low as 16 percent and extending repayment periods, what is your take […]
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