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, […]
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 […]
National Bank of Kenya (NBK) will cease trading on the Nairobi Securities Exchange (NSE) on Thursday in a notice issued by the Nairobi Securities Exchange (NSE). The notice issued on Monday to shareholders, investors and the general public by NSE stated that the de-lising of the lender follows full acquisition by KCB Group. “Notice is […]
Bank investors are set for a significant increase in dividend income in the next five months as the listed lenders make cash distributions for the year ending December amid improved profitability and brighter economic prospects. KCB Group #ticker:KCB, Standard Chartered Bank Kenya #ticker:SCBK and Stanbic Holdings #ticker:SBIC have paid or declared interim dividends totalling Sh5.7 […]
National Bank of Kenya (NBK) has been delisted from the Nairobi Securities Exchange (NSE) following its successful acquisition by the Kenya Commercial Bank Group (KCB) NSE said the move becomes effective on November 25, after approval by the bank’s shareholders KCB Group Plc acquired NBK in September 2019 through a share swap, but the bank […]
KCB Group #ticker:KCB has lost full control of running troubled Mumias Sugar Company after the High Court directed it to involve other creditors in the operations and planned leasing of the ailing miller. Justice Alfred Mabeya directed the KCB appointed receiver manager — Pongangipalli Venkata Ramana Rao — to involve and seek the nod of […]
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 […]
Customers at a KCB branch in Nairobi/FILE KCB Group PLC plans to complete the merger with Banque Populaire du Rwanda Plc (BPR) in December and rebrand by January following the acquisition in August. In an exclusive interview with the Star, KCB Group Chief Finance Officer Lawrence Kimanthi termed the acquisition as strategic, adding that it […]
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 | […]
KCB Group #ticker:KCB has declared an interim dividend of Sh1 per share after its net profit more than doubled to Sh25.1 billion in the nine months ended September. The lender becomes the second to declare a surprise interim dividend for the third quarter after Standard Chartered Bank Kenya #ticker:SCBK which has proposed a payout of […]
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