At least seven top managers at the National Bank of Kenya #ticker:NBK including former CEO Wilfred Musau have been replaced in the wake of KCB Group #ticker:KCB acquisition of the lender. The bank says the top managers left in the middle of turnaround efforts aimed at reverting the lender to profitability. Mr Musau, appointed in […]
KCB currently operates in six countries and runs a representative office in Ethiopia. PHOTO | FILE | NMG KCB’s acquisition of two banks in Rwanda and Tanzania has pushed its total asset base to over Ksh1 trillion ($10 billion), creating a regional banking giant with a re-energised ambition to join the ranks of leading pan-African […]
KCB’s acquisition of two banks in Rwanda and Tanzania has pushed its total asset base to over Ksh1 trillion ($10 billion), creating a regional banking giant with a re-energised ambition to join the ranks of leading pan-African banks, currently dominated by Southern and West African banks. "This is a significant milestone and very historic positioning. […]
* To buy controlling stake in Banque Populaire du Rwanda * Deal will make KCB the second-biggest bank in Rwanda * To take full ownership of ABC Tanzania, eyes DRC next (Updates with value of the deal) NAIROBI, Nov 26 (Reuters) – Kenya’s top lender by assets, KCB Group, has entered a binding agreement to […]
KCB Group CEO Joshua Oigara during KCB Group 2019 half-year investor briefing. KCB Bank has moved to snap up banks that were snubbed by its rival Equity as it expands its network in the region. The lender says it has signed an agreement with London-listed Atlas Mara to acquire the latter’s banks in Rwanda and […]
KCB currently operates in six countries and runs a representative office in Ethiopia. PHOTO | FILE | NMG KCB’s acquisition of two banks in Rwanda and Tanzania has pushed its total asset base to over Ksh1 trillion ($10 billion), creating a regional banking giant with a re-energised ambition to join the ranks of leading pan-African […]
KCB Group has continued its clean up of the National Bank of Kenya (NBK) books with the lender’s share of gross non performing loans (NPLs) shrinking to Ksh.29 billion. Acquired in 2019, NBK had been struggling under the weight of loan defaults, a concern that triggered KCB Group to delegate an asset recovery team to […]
NAIROBI, Nov 12 (Reuters) – KCB Group, Kenya’s biggest bank by assets, now expects to only restructure 20% to 22% of its loans by the end of the year due to the fallout from COVID-19, its chief financial officer said on Thursday. The forecast was lower than an estimate of 25% made in August by […]
KCB Group recorded a 43 percent drop in net profit during the nine months period ended September 30 owing to the Covid-19 pandemic that hurt banking transactions and fuelled a significant jump in bad loans and loan loss provisions. The lender, which has operations in Kenya, Uganda, Tanzania, Rwanda, Burundi and South Sudan, recorded a […]
NAIROBI, Kenya, Nov 12 – National Bank of Kenya (NBK) has posted Sh87million in profit after tax for the nine months ending September 2020. This represents a 77 percent decline over a similar period last year due to effects of the COVID-19 pandemic. The bank recorded a profit before tax of Sh535million representing a 7 […]
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