The Government of Rwanda has approved the acquisition of Banque Populaire du Rwanda (BPR) by Kenya Commercial Bank (KCB Rwanda), the latter announced on Monday in its latest regulatory filings. BPR is currently owned by London-listed financial services firm, Atlas Mara Limited. According to the Nairobi-based KCB Group, the parent firm of KCB Rwanda, they […]
If the Covid-19 pandemic that violently shook the economy for the better part of last year did not kill local banks, then it has made them stronger. Slightly over a year since the country recorded its first case of the deadly virus, Kenyan banks appear to be on steroids. The latest data from the Central […]
Bank lending to parastatals has dropped to levels last seen four years ago on mounting defaults as the financial institutions move to cushion themselves from further losses in the State-owned enterprises (SOEs). Latest Central Bank of Kenya (CBK) data shows that banks’ net loan book to parastatals has fallen for three consecutive months to close […]
A KCB branch in the Southern province of Rwanda. Kenyan bank subsidiaries find the going tough in the region registering a slight decrease from $86.7 million in 2016 to $85.8 million in 2017. PHOTO | CYRIL NDEGEYA | NATION Rwandese authorities have approved the KCB Group deal to buy Banque Populaire du Rwanda (BPR) from […]
Rwandese authorities have approved KCB Group #ticker:KCB deal to buy Banque Populaire du Rwanda (BPR) from London-listed financial services firm Atlas Mara Limited. Atlas Mara made regulatory disclosures that it had obtained approvals to sell its banks in Rwanda and Botswana. The firm said it was awaiting approvals from Tanzania where KCB Group has also […]
Local investors have bought additional Sh10.99 billion KCB stake since Covid-19 struck last March, tightening their grip on Kenya’s largest lender in the wake of foreign investor exits. Latest regulatory filings show that local individual and institutional investors such as pension funds have added 245.742 million shares or 7.65 percent stake between March last year […]
Nairobi Securities Exchange trading floor. PHOTO | NMG Investors’ wealth at the Nairobi Securities Exchange (NSE) yesterday hit a 39-month high, adding them Sh101.6 billion in the last one month on the back of a rally of Safaricom and Equity Bank stocks. NSE data shows the market recorded the third straight day of gaining to […]
Awards for Excellence During Covid-19, providing support to more vulnerable sections of society has been more important than ever . Whether it’s distributing sanitary equipment or providing retailer vouchers through digital means, Kenya Commercial Bank ’s KCB Foundation has stepped up to that challenge. This help, moreover, has come on the back of older initiatives […]
Your greatest advantage today can turn into your worst drawback tomorrow. Such is the vagary of life that NCBA, the third-largest bank in the country, is grappling with after President Uhuru Kenyatta signed into law the Finance Bill, 2021. With the ratification of the Bill, all the lenders with mobile lending and saving platforms have […]
Nairobi Securities Exchange trading floor. PHOTO | NMG Foreign investors at the Nairobi Securities Exchange (NSE) slowed down their net outflows in the first half of this year compared to the corresponding period last year, reflecting the improving sentiments around the market as companies continue to recover from the Covid-19 related difficulties of 2020. Market […]
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