EQUITY Bank (T) has launched ‘Easy Card’ to ease digital transactions and reinforce financial inclusion where the holder needs no bank account. The card also is easy to load through mobile money, Eazzy banking, Wakala, and branches and needs only a national ID, from NIDA to enrolment without the need to open a bank account. […]
NCBA Group #ticker:NCBA spent Sh700.7 million to cut its workforce in the year ended December as the lender sought to realise the cost-reduction benefits of the merger of its constituents –the former NIC Group and CBA Group. The Nairobi Securities Exchange-listed firm says the job cuts were implemented in Kenya –its biggest market. Its total […]
East Africa’s top retail banks are cashing in on interest income on government securities and readjustment of loan loss provisions to crawl back to profitability in the midst of the third wave of Covid-19 pandemic that is impacting banking transactions and loan books. A review of the unaudited financial statements for KCB, Equity Bank, Cooperative […]
•The number of transactions through digital are at 283.4 million while 9.8 million are via legacy channels (Branches and ATMs). •In terms of volumes, Sh1.167 trillion went through digital channels in Q1 compared to Sh 680.3 billion via legacy channels. Equity Bank headquarters in Upper Hill area, Nairobi/REUTERS Equity’s digital business transformation model continues to […]
East Africa’s top retail banks are cashing in on interest income on government securities and readjustment of loan loss provisions to crawl back to profitability in the midst of the third wave of Covid-19 pandemic that is impacting banking transactions and loan books. A review of the unaudited financial statements for KCB, Equity Bank, Cooperative […]
British multinational tea packer Global Tea & Commodities has sold an equity stake to three European financiers, raising funds for expansion of its Kenyan unit, which packages the Kericho Gold and Baraka Chai tea brands. The three firms—French development finance institution Proparco, Danish sustainable investment fund IFU and London based investment and advisory firm Si […]
NCBA Group #ticker:NCBA spent Sh700.7 million to cut its workforce in the year ended December as the lender sought to realise the cost-reduction benefits of the merger of its constituents –the former NIC Group and CBA Group. The Nairobi Securities Exchange-listed firm says the job cuts were implemented in Kenya –its biggest market. Its total […]
The fate of Sh654.3 million the State says it lent Equity Bank is unknown after the lender denied receiving any loan from the government in its nearly four decades of existence. In documents tabled at the National Assembly on April 29, the Treasury says Equity Bank has an outstanding Sh493.47 million government debt from the […]
Bad loans for Kenya’s top nine banks by assets have increased by Sh82.5 billion in the full-year period between March last year and March this year, highlighting how Covid-19 has been devastating to local banks. The lenders that have released their results for Quarter One this year have posted a total of Sh339.9 billion in […]
Equity Bank Rwanda has opened a new retail branch in Kimironko sector of Gasabo District bringing the Bank’s nationwide footprint to 15 branches. According to Hannington Namara, the Managing Director of Equity Bank Rwanda, the move is in line with sustained efforts to increase access to banking services to customers in Kigali and its surrounding […]
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