Equity Group CEO James Mwangi (PHOTO: File) NAIROBI, KENYA : Equity Group has recorded a 14 per cent decline in profit after tax in the third quarter of 2020 to Sh15 billion from Sh17.5 billion recorded the previous year same period. The bank’s net profit has been affected by the impact of the Corona Virus […]
PHOTO. | File The Nairobi Securities Exchange (NSE) has extended the suspension of Nairobi Business Ventures (NBV) from trading on the bourse. NSE says the extension will allow for completion of the company’s restructuring process that includes a share split, allotment, and issuance of shares to Delta International FZE. A notice from the securities exchange […]
PHOTO. | File The Nairobi Securities Exchange (NSE) has extended the suspension of Nairobi Business Ventures (NBV) from trading on the bourse. NSE says the extension will allow for completion of the company’s restructuring process that includes a share split, allotment, and issuance of shares to Delta International FZE. A notice from the securities exchange […]
KCB Group #ticker:KCB expects its newly acquired subsidiary National Bank of Kenya to turn a corner and deliver a billion shillings in profits by the end of the year. Chief executive Joshua Oigara said the lender had won back old corporate and government accounts as a result of market confidence and business reorganisation and recovered […]
National Bank of Kenya MD Paul Russo National Bank of Kenya (NBK) has won two prestigious global awards for its customer service excellence. The bank scooped the Customer Satisfaction and Happiness Award in the Global Banking and Finance Awards 2020. The awards recognise innovation, achievement, strategy, progressive and inspirational changes within the financial services world. […]
•NBK secured the Sh2.3 billion deal from NTSA for the smart card driving licenses, but the lender subcontracted Pesa Print for the job •The high court found NBK in breach of the financing deal for failing to make payments due to Pesa Print directly to Ecobank to settle a $3.5 million loan offered to the […]
National Bank of Kenya former Chief Executive Officer Munir Ahmed. The National Bank of Kenya (NBK) will pay former Chief Executive Officer Munir Ahmed Sh26 million for unfairly sacking him. In a verdict that exonerates him from being at the heart of losses incurred by the lender, the Employment and Labour Relations Court in Nairobi […]
The Employment and Labour Relations Court has ordered the National Bank of Kenya (NBK) to pay its former managing director Munir Sheikh Ahmed Sh26,520,000 as compensation for unlawful dismissal four years ago. In his ruling at the Milimani Law Courts on October 9, Justice Byram Ongaya said the bank could not prove claims of gross […]
Residents of Mahiga-Meru village chase desert locusts using old aluminium cooking pots, iron sheets and twigs, in Laikipia County (file photo). Top Kenyan banks have yielded to the Covid-19 pandemic with grim prospects of weaker profitability, slowed loan book growth and a surge in the volume of bad loans, signaling reduced dividends for shareholders and […]
A shop with various agency banking counters in Nakuru. KCB, Equity, NCBA, Co-operative Bank, DTB, Absa, StanChart and Stanbic started 2020 with by deteriorating asset quality. FILE PHOTO | NMG KCB, Equity, NCBA, Co-operative Bank, DTB, Absa Bank (Kenya), Standard Chartered Bank and Stanbic started the year with by deteriorating asset quality, with an average […]
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