Standard Chartered Bank Kenya chief executive Kariuki Ngari. PHOTO | NMG Standard Chartered Bank Kenya will lock out borrowers with multiple digital loans from its mobile lending app that will be unveiled in the coming days. StanChart chief executive Kariuki Ngari said the lender would not “overburden” borrowers with additional credit, citing elevated default rates […]
A National Bank of Kenya branch in Nairobi. FILE PHOTO | NMG The National Bank of Kenya (NBK) has put up Mombasa tycoon Ali Punjani’s palatial Nyali home up for auction over a long-running debt which sources said is more than Sh1billion including interest and penalties. The eight bedrooms all ensuite, double-storey mansion with staff […]
Local commercial banks have cut their funding cover on expected credit losses in return to higher profitability through the first quarter of the year. A new analysis covering 10 of Kenya’s listed banks by Cytonn Investment shows loan loss provisions grew at a slower rate of 5.5 per cent in the quarter to March 2021. […]
A fleet of Kenya Airways planes at the Jomo Kenyatta International Airport in Nairobi. FILE PHOTO | NMG Banks are now betting on a Treasury guarantee to recover their loans from Kenya Airways (KQ) as opposed to the airline’s cash flows, citing the weakened business model in the Covid-19 environment. Eleven local banks including Equity […]
KCB’s increased investment in Banque Populaire du Rwanda Plc (BPR) signals the increasing attraction of the landlocked country’s banking industry to Kenyan lenders. Other African banks such as Nigerian banking giant, Access Bank Plc, have also shown huge interest in the country of more than 13 million people, by acquiring an additional 16.22 percent shareholding […]
The two-year project will see GENU supply over 500 metric tons of quality seeds to farmers at subsidized prices and buy at the harvest at farm gate prices. Courtesy photo Kwania, Uganda | THE INDEPENDENT | About 500 farmers in Kwania district have signed a Memorandum of Understanding with the Global Educational Network to grow […]
West Kenya Sugar Company chairman Jaswant Rai (right) and CEO Tejveer Rai. FILE PHOTO | NMG The billionaire Rai family is among the eight high-profile investors eyeing a lease deal for the Sh15 billion assets of ailing Mumias Sugar Company, the miller’s receiver-manager has disclosed. The disclosure of Rai’s bid underlines months of the heated […]
Kenya Commercial Bank Group’s shareholders approved a proposal to acquire up to 100 percent of issued ordinary shares in two banks in Rwanda and Tanzania. Approval for the acquisition of Banque Populaire Du Rwanda (BPR) and African Banking Corporation Tanzania Ltd (BancABC) was granted electronically during the 50th annual general meeting held on May 27. […]
KCB’s increased investment in Banque Populaire du Rwanda Plc (BPR) signals the increasing attraction of the landlocked country’s banking industry to Kenyan lenders. Other African banks such as Nigerian banking giant, Access Bank Plc, have also shown huge interest in the country of more than 13 million people, by acquiring an additional 16.22 percent shareholding […]
An aerial view of Kigali, Rwanda on September 21, 2018. PHOTO | POOL KCB’s increased investment in Banque Populaire du Rwanda Plc (BPR) signals the increasing attraction of the landlocked country’s banking industry to Kenyan lenders. Other African banks such as Nigerian banking giant, Access Bank Plc, have also shown huge interest in the country […]
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