StanChart Kenya CEO Kariuki Ngari. PHOTO | DIANA NGILA Standard Chartered Bank Kenya plans to give customers the option of applying for personal loans remotely through its imminent entry into the mobile lending segment, chief executive Kariuki Ngari has said. This will be in addition to offering low-value mobile credit through the planned roll out […]
Nairobi Securities Exchange trading floor. PHOTO | NMG Equities and bonds turnover at the Nairobi Securities Exchange (NSE) rose sharply in May, driven by increased trading in blue-chip stocks and demand for infrastructure bonds on the fixed income segment. The NSE said that turnover in the equities segment rose from Sh9.9 billion in April to […]
Devki Group founder and CEO Narendra Raval. FILE PHOTO | NMG Steel billionaire Narendra Raval has withdrawn his bid in leasing ailing Mumias Sugar Company, dealing a blow to the revival of the miller that has not been in production for over two years. Mr Raval, who was planning to inject Sh5 billion to modernise […]
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 […]
Western Kenya politicians have opposed a move by the Kenya Commercial Bank (KCB) to lease out debt-ridden Mumias Sugar Company. The leaders have protested that there was neither public participation nor were key players consulted before the lease was executed. The bank placed the miller under receivership after it defaulted on loans amounting to Sh500 […]
File image of Mumias Sugar Company. PHOTO / COURTESY Devki Group of Companies has withdrawn its bid to lease the troubled Mumias Sugar Company. In a statement issued on Friday, Devki Group Chairman Narendra Raval cited increased public scrutiny on the transaction following the submission of the application. “Given the ongoing public interest which the […]
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 […]
Devki Group founder and CEO Narendra Raval. FILE PHOTO | NMG Steel billionaire Narendra Raval has withdrawn his bid in leasing ailing Mumias Sugar Company, dealing a blow to the revival of the miller that has not been in production for over two years. Mr Raval, who was planning to inject Sh5 billion to modernise […]
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 […]
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 […]
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