KCB Group’s subsidiary- the National Bank of Kenya (NBK) has rallied back into profitability for the full year period ending in December 2020 as its business turnaround continues. The lender acquired by KCB in 2019 has posted a Ksh.177.7 million profit in the period reversing a Ksh.337 billion loss booked a year earlier. The improved […]
Britam new chief executive Tavaziva Madzinga. PHOTO | COURTESY Insurance group Britam Holdings has eliminated nine top executive positions or nearly half of its management team as the new CEO shakes up the top deck of the Nairobi bourse-listed firm. The company Thursday introduced a leaner team of 11 managers from the previous 19, with […]
KCB Group #ticker:KCB will provide an additional capital injection of Sh3 billion to National Bank of Kenya (NBK) in the coming days, with the cash going to help the subsidiary comply with minimum capital requirements. NBK has continued to breach statutory capital levels despite receiving the initial capital support of Sh5 billion from KCB in […]
Kenya Commercial Bank shareholders on the Company’s Register of Members as of 25th April 2022 to receive a Dividend Payment of KES 2.0 per share. For the latest key economic events use our free ECONOMIC CALENDAR
Six years ago, Alice Njeri Maina was shocked to find her name listed at a credit reference bureau for defaulting on a loan she never took. The account was registered under her son’s name. A puzzled Njeri, therefore, visited her bank’s Nakuru branch to follow up on the issue. The bank promised to investigate. Unknown […]
Many lenders are now betting big on the micro, small and medium-sized enterprises (MSMES) segment to drive growth and deepen financial inclusion in the wake of slowdown in large corporate loan disbursements. An emerging credit quality stress among once good borrowers in segments such as retail and manufacturing is prompting commercial banks to turn their […]
Assets of the National Cereals and Produce Board (NCPB) risk auction over a Sh7.3 billion debt. The board used its assets as collateral to secure the loan from the Kenya Commercial Bank. The cash-starved State agency further has an additional Sh4.1 billion maize subsidy debt and Sh1.11 billion owed to State Department of Devolution, Agriculture […]
Joshua Oigara, the Group Chief Executive Officer of the Kenya Commercial Bank Group speaks during a Reuters interview in Nairobi, Kenya July 11, 2018. REUTERS/Jackson Njehia Covid-19 has hit African economies hard, and Kenya is no exception. Longstanding businesses in tourism, agriculture, logistics… everything came shuddering to a halt. “We prepare, as a bank, for […]
On an October Monday morning four years ago, Richard Boro Ndungu, a partner at audit firm KPMG Kenya, was informed by the chief executive that an investigation was being launched over his conduct. The CEO, Josephat Mwaura, asked him to hand over his mobile phones and laptop so they could be forensically imaged to determine […]
The Kenya Mortgage Refinance Company (KMRC) has so far advanced Sh2.76 billion in credit to mortgage lenders, accounting for about seven per cent of the fund’s total capital pool. KCB #ticker:KCB accounts for the bulk of the lending at Sh2.12 billion, followed by HF #ticker:HFCK at Sh515 million. Others include Stima Sacco (Sh69million), Tower Sacco […]
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