Uganda Securities Exchange (XUGA)
Nairobi — Majority of bank customers still prefer mobile banking to the traditional brick and mortar services, reinforcing a sustained uptake of contactless banking solutions brought about by the Covid-19 pandemic, a new survey has revealed. According to the Banking Industry Customer Satisfaction Survey (2021), nearly six out of every ten bank customers (58.5 percent) […]
The revelation that 97 percent of stock trading accounts have been dormant for years should spur regulators and other stakeholders in the capital markets into action. It speaks to widespread investor apathy that comes on the back of disappointing returns, a major part of which can be traced to poor corporate governance among some Nairobi […]
A Stanbic Bank branch on Kimathi Street, Nairobi. FILE PHOTO | NMG South Africa’s Standard Bank has been given one year to complete the purchase of more shares in its local subsidiary Stanbic Holdings with a target of attaining a 75 percent stake. This marks the latest extension of the buying window since the multinational […]
With the growing lending to private and individual customers, a total of 13 banks have generated N5.96trillion interest income from loans to customers between 2020 and 2018. This has demonstrated banks’ drive to support the Central Bank of Nigeria (CBN) aggressively lending to support the real sector and boosting banks’ earnings. Nigerian Banks with branches […]
Johannesburg — Stanbic Bank’s parent company, Standard Bank Group, has emerged as the most valuable banking brand on the African continent for 2022 in Brand Finance’s annual ranking of the world’s Top 500 Banking Brands, after increasing its brand value by 26% to USD1.583 billion. This significant increase in brand value has seen Africa’s largest […]
Business conditions improved in the private sector in January, buoyed by the reopening of schools following an extended period of closure due to the Covid-19 pandemic according to the latest Stanbic Bank Purchase Managers Index (PMI). Despite an increase in fuel prices, the PMI posted 54.9 in January, up from 51.5 in December and above […]
Supermarket chain Naivas will open two branches at Nairobi’s Greenspan Mall and Imara Shopping Mall in the next two weeks as it steps up its expansion in the country. The establishment of the outlet at Greenspan Mall, which is owned by Nairobi Securities Exchange #ticker:NSE -listed property investor ILAM Fahari I-Reit #ticker:FAHR , had been […]
Kayode Tokede For the first time in 2022, the Central Bank of Nigeria (CBN) has wielded the big stick and debited Zenith Bank Plc, Providus Bank, First City Monument Bank (FCMB) Limited and 11 other banks N356.1billion for failing to meet its 27.5 per cent Cash Reserve Requirement (CRR) obligation. The fresh debit, which THISDAY […]
KBA Chairman John Gachora, former chairman and KCB Group MD Joshua Oigara and CEO Habil Olaka during the KBA Annual General Meeting Banks expect an increase in private sector credit growth in 2022, driven by the reopening of the economy and capital demand by the Micro, Small and Medium Enterprises. A Central Bank of Kenya […]
Mumias Sugar Company gate. [Benjamin Sakwa, Standard] The Competition Authority of Kenya now says it is yet to receive a notification seeking its approval of Mumias Sugar Company ’s lease by Ugandan miller Sarrai Group. In its response to a case filed by farmers, the authority asserts the deal cannot be sealed without its green […]
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