Kenyans borrowed nearly Sh1.2 billion every day on Fuliza and M-Shwari mobile loans last year, signalling a deepening debt dependence that increased with last year’s massive job losses caused by the Covid-19 pandemic. NCBA Bank financials released yesterday show the lender advanced a total of Sh432 billion Fuliza and M-Shwari mobile loans, which averaged about […]
NCBA Bank has recorded a decline in its net profit from Ksh. 7.8 billion to Ksh. 4.5 billion at the close of the financial year ended 31st December 2020. This is a 42% decline of its net profit compared to a similar period the previous year. The lender attributed the decline to the coronavirus pandemic […]
Nairobi — NCBA Group PLC has posted a profit after tax of Sh4.6 billion for the financial year ending December 31, 2020. The company’s pre-tax profit for the period under review was Sh4.98 billion, down 56 percent due to increased impairments, occasioned by the impact of COVID-19. This is the first time NCBA is announcing […]
NCBA Bank Kenya PLC designate chairman Isaac Awuondo with group managing director John Gachora during the unveiling of NCBA group new logo at Raddison Blu Hotel,Nairobi,October 3rd 2019,/DOUGLAS OKIDDY NCBA Group’s net profit declined 42 per cent to Sh4.6billion in the financial year ended December 31 2020 on the back of high levels of credit […]
Co-operative Bank of Kenya #ticker:COOP reclaimed its position as the country’s third-largest lender by assets in the year ended December when it also declared the biggest dividend payout in the industry of Sh5.8 billion. The lender closed the period with total Sh536.9 billion assets, placing it third after Equity Group’s #ticker:EQTY Sh1 trillion and KCB […]
Investors at the Equity Bank Group will walk home empty handed for the second year running after the lender withheld dividends on shrinking net earnings. The lender joined other tier top commercial banks in the country to announce a drop in 2020 year results on high loan loss provision due to Covid-19 economic pressures that […]
Co-operative Bank chief executive Gideon Muriuki (left) and President Uhuru Kenyatta. FILE PHOTOS | NMG The families of Jomo Kenyatta and former Central Bank of Kenya Governor Philip Ndegwa and individual investors Baloobhai Patel and Gideon Muriuki, the Co-operative Bank chief executive, are among the top beneficiaries of the combined Sh17.1 billion dividends that Kenya’s […]
Equity Bank and NCBA are the latest top tier banks to report double digit drops in profitability for the year ended December 2020, as lenders are hit hard by huge provisions for bad loans triggered by the Covid-19 pandemic. The two now join Absa Bank, Co-operative and KCB in the list of big banks who […]
Investors at the Equity Bank Group will walk home empty handed for the second year running after the lender withheld dividends on shrinking net earnings. The lender joined other tier top commercial banks in the country to announce a drop in 2020 year results on high loan loss provision due to Covid-19 economic pressures that […]
NCBA bank with subsidiaries in Rwanda, Kenya, Ivory Coast, Uganda and Tanzania may require a highly experienced IT team to help the bank fix loopholes in its technology systems and department. NCBA’s technical hiccup arose from planned shift into a uniform platform for all its customers in Kenya and the region following the merger of […]
The value of investments can go down in value as well as up, so you could get back less than you invest. Past performance does not necessarily indicate a financial product’s future performance. This website aims to provide information to help you make your own informed decisions. Our publications, ratings and analysis should be viewed as an additional investment resource, not as your sole source of information. This website does not provide personal advice based on your circumstances. To obtain advice tailored to your situation, please contact a professional financial adviser.