Bankers Urge CBK to Hold Interest Rate at 13%
Bankers have urged the Central Bank of Kenya (CBK) to maintain its benchmark rate steady at 13% during the next Monetary Policy Committee meeting on August 6th. “Considering these developments, [...]
Markets Regulator Approves Mi Vida REITs Manager, Issues Licenses to Over 10 Others in Coffee and Fund Management
Kenya's Capital Markets Authority (CMA) has granted several new licenses and approvals across multiple sectors citing move to deepen the capital markets industry. Mi Vida Homes Licensed as REIT Manager [...]
NCBA Waives Monthly Fees for Retail, Commercial Accounts
NCBA Group will not charge monthly fees for their retail banking accounts effective 1st July 2024 in a bid to enhance their customers' value for money. “This new era of [...]Stanbic and Stanchart's 2023 Sustainability Reports Highlights
Stanbic and Stanchart 2023 Sustainability Reports indicate how the lenders generated, sustained, and maximized positive impact on the society, environment and economy during the year. Key Highlights The number of [...]Bank's Regional Subsidiaries' Profits Double as DRC Takes Lead
The Democratic Republic of Congo (DRC) is now the most profitable market for Kenyan banks' subsidiaries within the East African Community (EAC), overtaking Rwanda in 2023. With the high global [...]Bank Accounts With Over KShs. 500k Declined by 40% in 2023
Bank accounts with more than half a million shillings declined by 39.89% while accounts with below KShs. 500 grew by 50.4% in 2023Higher Capital Limits Put 25 Banks on Edge
25 licensed Kenyan commercial banks, more than half of the 39 licensed commercial banks, will have up to three years to raise their core capital to the new KShs. 10bn [...]Credit History Requests Declined Marginally in 2023 as Interests Rates Rose
Credit reports requests declined by 3 percent, from 37.5 million in 2022 to 36.4 million, in 2023, which the CBK attributes to low business activity and lower demand for credit. [...]6 Bank Mergers and Acquisitions in 2023 Amid Plan to Raise Capital Base
In 2023, there were six consolidations in the banking sector where four commercial banks and two microfinance banks were either partially or wholly acquired, as the regulator kicks off plans [...]Agency Banking Fights for Relevance in Era of Internet, Mobile Money
Increase in mobile money and internet banking is eating into the agency banking space with number of transactions through bank agents decreasing by 8.3 percent from approximately 158.4 million transactions [...]Twelve Banks Violated CBK Banking Rules in 2023
Twelve banks went against the Central Bank of Kenya (CBK) guidelines and Banking Act in 2023, with the reported institutions breaching core capital rules among other guidelines, the regulator said [...]Microfinance Banks' Losses Rise to KSh 2.4Bn
Kenya’s Microfinance Banks (MFBs) sank deeper into loss territory making a combined KSh2.4 billion loss before tax as at December 31, 2023, compared to a loss of KSh980 million as [...]
