Equity Group Managing Director & CEO Dr. James Mwangi [Wilberforce Okwiri, Standard] Equity Group founder Peter Munga knows well what to do in the face of failure: look for people to rescue the vision. But for KCB Bank, hitting rock bottom has not been part of its story. Since 1896, when it started its operations […]
Pensioners have enjoyed the highest returns from investments in four years helped by the big gains on the shares of Safaricom and large banks, which make up the bulk of the pension industry equities investments. Pension funds surveyed by fund administrator Zamara and Actuarial Services East Africa (Actserv) show a return of 15.1 percent on […]
KCB Group CEO & MD, Joshua Oigara, KCB Group Chairman, Andrew Kairu (C) and KCB Group CFO, Lawrence Kimathi (R) during the bank’s half year results announcement at the Nairobi Serena Hotel on August 19, 2021. The lender’s half year profit doubled to Sh 15.3 billion from Sh 7.6 billion a year ago. PHOTO | […]
National Bank of Kenya (NBK) has delisted from the Nairobi Securities Exchange (NSE) effective Thursday following full acquisition by KCB Group. This means shares of the company will stop trading at the Nairobi bourse. "Notice is hereby given on the de-listing of National Bank of Kenya (NBK) from the Nairobi Securities Exchange with effect from […]
Jamii Bora Bank and National Bank of Kenya (NBK) #ticker:NBK have returned to profitability and are growing their shareholder funds as subsidiaries of their respective parent firms Co-op Bank and KCB Group which acquired them in rescue deals. The transactions demonstrate the benefits of economies of scale that have enabled the big banks to turn […]
Home loan borrowers could get better terms after the competition watchdog directed 12 banks to revise their terms and conditions, citing hidden charges or skewed contracts against their clients. The Competition Authority of Kenya (CAK) reviewed home loan contracts for 27 banks and found the information provided to consumers by 12 of them was incomplete, […]
The disclosure that 12 banks, among them some of the biggest ones in the market, have been engaging in predatory practices is disappointing. The Competition Authority of Kenya (CAK) said its review of home loan contracts for 27 banks revealed that 12 of them provided mortgage clients incomplete, unclear and unfavourable information. The hidden mortgage […]
Kenya has taken initial steps towards setting up a secondary mortgage market where lenders will sell home loans to long-term investors such as pension funds and insurers at a discount. The Kenya Mortgage Refinancing Company (KMRC) is working with banks to develop mortgage-backed securities where the lenders will pool home loans of similar characteristics to […]
Nairobi — Kenyan Banks have emerged top of their other East African counterparts in the 2021 ranking of the continent’s top 100 banks by tier 1 capital conducted by Africa Business Magazine. Equity was the highest-ranked in the report. The regional lender climbed three places to position 24 following a 27 percent increase in its […]
Nairobi — The National Bank of Kenya has received approval from the Capital Markets Authority(CMA) to de-list from Nairobi Securities Exchange following the full takeover by KCB Group. NSE, in a statement targeting all shareholders, investors and the general public said NBK will subsequently be removed from the course on 25 November. "Notice is hereby […]
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