(Ecofin Agency) – The Board of Directors of Kenyan Equity Group Holdings says it has canceled the distribution of KSh9.5 billion (about $88.9 million) in dividends to shareholders for the financial year 2019. The reason for this decision, the Board says, is the need to preserve liquidity in this pandemic context. Following this announcement, the […]
The East African Cables manufacturing plant in Nairobi. The company has been making losses for the past four years. FILE PHOTO | NMG The agreement involves a restructure of the outstanding facilities by the bank under a new long term facility. EA Cables is grappling with a huge debt portfolio amounting to Ksh3.55 billion ($35.5 […]
The East African Cables manufacturing plant in Nairobi. The company has been making losses for the past four years. FILE PHOTO | NMG The agreement involves a restructure of the outstanding facilities by the bank under a new long term facility. EA Cables is grappling with a huge debt portfolio amounting to Ksh3.55 billion ($35.5 […]
Customers at an Equity Branch in Nairobi. FILE PHOTO | NMG Equity Group #ticker:EQTY has cancelled its proposed dividend payout of Sh2.50 per share or a total of Sh9.4 billion, citing the need to conserve cash in the wake of the global Covid-19 pandemic. This is the first time the country’s second-largest bank by assets […]
KCB Wabera Street branch in Nairobi. PHOTO | DENNIS ONSONGO | NMG KCB Group has restructured loans worth Sh80 billion in Kenya, offering reprieve to customers who found it difficult to repay their loans due to the impact of the coronavirus. The amount is equivalent to 15 percent of KCB’s Sh535.3 billion total loan book […]
(Adds industry numbers) NAIROBI, May 13 (Reuters) – Kenya’s biggest lender, KCB Group, has restructured 80 billion shillings ($750 million) in loans, about 15% of its book, due to customers facing coronavirus-related hardships, its CEO told the Business Daily newspaper. The central bank allowed lenders in the East African nation to offer relief to distressed […]
NAIROBI, May 6 (Reuters) – Standard Chartered Bank Kenya has adjusted the terms of more than 8 billion shillings ($75.4 million) of its loans to individuals and businesses – about 6% of the total – to help them weather the impact of COVID-19, it said on Wednesday. Lenders in the East African nation have so […]
A Standard Chartered bank branch in Nairobi. FILE PHOTO | NMG Standard Chartered Bank Kenya will on Friday close eight branches due to Covid-19, which has reduced business activities on extended state restrictions on mass gathering. The bank has informed its customers that Koinange, Harambee Avenue, T-Mall, Two Rivers, Ruaraka/Garden City, Upper Hill, Jomo Kenyatta […]
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