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 […]
Tag: XNAI_NIC
Hackers Paralyse NCBA Bank Operations
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 […]
Co-op Bank to pay Sh1bn for Jamii Bora stake
A Co-op Bank branch in Nairobi. FILE PHOTO | NMG Co-operative Bank of Kenya has offered an initial Sh1 billion for the purchase of a 90 percent stake in Jamii Bora Bank, according to disclosures by the small lender ahead of its July 1 shareholders meeting that will consider the proposed transaction. Jamii Bora’s current […]
Five Kenyan women running corporate Kenya
Audrey Masitsa Women have taken the world, and Kenya, by storm with their ability to top the career ladder ensuring the corporations they run reach new heights. It was previously unheard of for women to join the corporate world, let alone head it. But over the years, many have broken the glass ceiling and become […]
Attorney General fights Ndegwa ouster at CMA
Mr James Ndegwa, the Capital Markets Authority (CMA) board chairman. PHOTO | SALATON NJAU | NMG The Attorney-General has defended the appointment of James Ndegwa as the chairman of Capital Markets Authority (CMA) in a court case filed by activist Okiya Omtatah seeking his removal over alleged conflict of interest. Mr Omtatah argues that Mr […]
NCBA saves Sh222m on early payment of corporate bond
NCBA will redeem its Sh7 billion corporate bond 91 days ahead of its December 14, 2020 maturity date. File | Nation Media Group Banking group NCBA is set to redeem its Sh7 billion corporate bond 91 days ahead of its December 14, 2020 maturity date, a move that will see it save Sh222.5 million in […]
NCBA saves Sh222m by paying bond early
NCBA Group chief executive John Gachora during a December 2019 interview. FILE PHOTO | NMG Banking group NCBA is set to redeem its Sh7 billion corporate bond 91 days ahead of its December 14, 2020 maturity date, a move that will see it save Sh222.5 million in interest expenses. The Nairobi Securities Exchange-listed firm says […]
Kenya: NCBA Saves Sh222 Million on Early Payment of Corporate Bond
Banking group NCBA is set to redeem its Sh7 billion corporate bond 91 days ahead of its December 14, 2020 maturity date, a move that will see it save Sh222.5 million in interest expenses. The Nairobi Securities Exchange-listed firm said it will now settle the debt on September 14 using internal cash flows. The bond […]
GCR withdraws ratings on NIC Bank, Commercial Bank of Africa
“Accordingly, GCR will no longer provide ratings or analytical coverage for NIC and CBA. The ratings were last reviewed in February 2019,” the GCR which is an African arm of New York Stock Exchange listed Duff & Phelps said in its latest report. Both banks were then rated as evolving with CBA assigned A+(KE) and […]
Ndegwa brothers reveal Sh3.2 billion NCBA ownership
NCBA Group chairman James Ndegwa (left) and his brother Andrew Ndegwa each own a 4.16 percent personal stake in the bank with a market value of Sh1.6 billion apiece. FILE PHOTOS | NMG NCBA Group chairman James Ndegwa and his brother Andrew Ndegwa each own a 4.16 percent personal stake in the bank with a […]