Traditional dividend payers such as KCB, Equity, Co-operative Bank of Kenya and NCBA are all promising to distribute part of the profits to shareholders. Banks needed just seven months this year to earn the profits they made the whole of last year, new data shows. And now they are promising shareholders bumper dividends as the […]
KCB Group has cancelled its plan to acquire a Tanzanian lender from London-listed Atlas Mara Limited, citing regulatory hurdles. KCB in late November 2020 announced that it would acquire 62.06 percent stake in Banque Populaire Du Rwanda (BPR) and 100 percent stake in African Banking Corporation Tanzania Limited (BancABC). The lender, which already has a […]
Accusations in Parliament that Equity Group #ticker:EQTY was A tribal bank given its heavy presence in Nairobi and central Kenya triggered the lender’s expansion across the country. The bank kicked off an aggressive expansion targeting Rift Valley, western Kenya and Nyanza hinged on its model of focusing on the poor and bottom end of the […]
Coop Bank Group managing director Gideon Muriuki at a past event. Assets of banks operating in Kenya grew by half a trillion shillings in three months from June to September 30. According to Central Bank of Kenya’s third quarter Commercial Bank Credit Officer Survey covering 39 banks, aggregate balance sheet increased by 2.5 per cent […]
KCB Group CEO Joshua Oigara (right) Chairman Andrew Kairu (centre) and Group CFO Lawrence Kimathi during the release of the full-year result. PHOTO | POOL KCB Group has cancelled its plan to acquire a Tanzanian lender from London-listed Atlas Mara Limited, citing regulatory hurdles. K CB in late November 2020 announced that it would acquire […]
Business leaders in Kenya have been urged to explore new opportunities in the Democratic Republic of Congo (DRC) as the two countries commit to deepening bilateral trade ties. This was the key message during the first Kenya-DRC trade mission that kicked off Tuesday in Kinshasa that brings together hundreds of entrepreneurs from both countries. “This […]
Top banks saved up to Sh27.2 billion in the nine months to September on lower costs of handling defaults as borrowers resumed making payments following months of a freeze. The eight tier-one lenders reduced their loan loss provisioning costs by up to 39 percent, underlining the supernormal profits posted by most of them. KCB Bank […]
Co-operative Bank had the highest volume of non-performing loans. FILE PHOTO | COURTESY East Africa’s top retail banks booked more than $125 million of bad loans in the nine months to September this year, as borrowers struggled to repay their loans following the expiry of a 12-month loan repayment relief programme for customers adversely impacted […]
The Fuliza overdraft service transacts more than Sh1.2 billion daily. Safaricom’s overdraft facility, Fuliza, has taken less than three years to capture the digital lending market. But the telco’s climb to the pinnacle of the market segment has been anything but smooth. It started with M-Kesho—the ill-fated product launched by the mobile service provider in […]
Small businesses are eyeing longer-term loans at fairer rates from funds provided to banks by development finance institutions to provide capital to fund the post-Covid-19 recovery plan. Cooperative Bank #ticker:COOP last week announced a seven-year loan facility for small businesses with up to 250 workers, partnering with the European Investment Bank (EIB) that has provided […]
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