Auctioneers have been unable to find a buyer for the home belonging to former Nakumatt CEO Atul Shah. The home was taken over by auctioneers in July after Shah failed to pay a debt of Ksh2 billion owed to the Kenya Commercial Bank (KCB). “The sale of Mr Atul’s house did not happen last month […]
The report revealed Kenyans borrowed KSh 220.38 billion in the first six months of 2021, up from KSh 972.3 million in a similar period in 2020 The Fuliza service was launched in 2019 and allowed customers to complete transactions even with insufficient balances in their M-Pesa accounts Safaricom’s sustainability report revealed the number of Fuliza […]
Kenya’s top nine listed banks slashed their provisions for loan defaults by a third in six months to June, defying Covid-19 hardships to raise their combined net earnings 72.5 percent to Sh66.5 billion. KCB #ticker:KCB, Equity #ticker:EQTY, Co-op Bank #ticker:COOP, I&M #ticker:I&M, Absa Bank Kenya #ticker:ABSA, NCBA #ticker:NCBA, Standard Chartered Bank Kenya #ticker:SCBK, DTB #ticker:DTK, […]
•The biggest reason for borrowing according to the survey is for household use and boosting capital in business. •68 per cent of men respondents have used multiple platform whereas women are more loyal to a single brand. ReelAnalytics director Andrew Akeye, Zenka Finance Director Felipe Sanhueza and PwC Senior Associate-Regulatory and Finance, Christopher Ndegwa, during […]
Nairobi — A new report by ReelAnalytics has revealed that men experiment with multiple digital credit providers compared to women who are considered more loyal to a single brand. The survey which was conducted among 1,ooo Kenyans across eight counties further revealed that women are more concerned about loan defaulting and their consequences, as compared […]
Nairobi — A new report by ReelAnalytics has revealed that men experiment with multiple digital credit providers compared to women who are considered more loyal to a single brand. The survey which was conducted among 1,ooo Kenyans across eight counties further revealed that women are more concerned about loan defaulting and their consequences, as compared […]
KCB Group #ticker:KCB spent Sh6.3 billion to acquire Banque Populaire du Rwanda Plc (BPR) from London-listed Atlas Mara Limited and other investors. The country’s second-largest bank by assets completed the deal on August 25, paying Atlas Mara $33 million (Sh3.6 billion) to acquire its 62.06 percent stake in the lender. Atlas Mara will get an […]
Proposal is good for the industry but a headache to investors, small players | THE INDEPENDENT | The central bank’s proposal to raise capital requirements for commercial banks is commendable but could threaten survival of small players, according to industry players and experts. Wilbrod Owor, the executive director at the Uganda Bankers Association told The […]
Nelson Gaichuhie, CAS The National Treasury and Planning and John Gachora, the NCBA Group Managing Director during the launch of NCBA 2020 Economic Outlook Report at Radisson Blu Hotel Nairobi The shutting down of several branches in Kenya due to Covid-19 on reduced business activities has seen NCBA bank relegated lender to the fourth position […]
Equity Group’s net profit nearly doubled to KSh 17.9 billion from KSh 9.1 billion in 2020 during the same period under review KCB Group reported a 101.9% surge in its net profit to hit KSh 15.3 billion during the period Central Bank of Kenyan (CBK) had declared the banking sector stable and resilient despite the […]
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