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 [...]Bank One Ltd Mauritius Exhibits Impressive Growth as it Marks 15 Years
Over the past 15 years of operations, Bank One, a commercial bank based in Mauritius, has seen its assets grow 10 fold, driven by accelerated customer growth. In 2008, Nairobi [...]Equity Bank Fintech Zepz' Renew Partnership to Ease Remittance Flows
The new collaboration between Equity Bank and global money transfer platform Zepz' is poised to target one million transactions every month, as well as garnering more than US$ 1 billion [...]Bank Customers More Sensitive to Experience than Rates, Transaction Costs-KPMG Survey
Bank customers are less sensitive to charges and costs when selecting a channel to access services from, but would pay an arm and a leg for good experience, the 2024 [...]Government, KCB Group Push Back as Audit Exposes Hustler Fund Gaps
The government and KCB Group have come out in defense of the Hustler Fund after the Auditor General pointed out management loopholes likely to lead to loss of public money. [...]Ethiopia Sets Maiden Interest Rate at 15%, Introduces Overnight Lending
The National Bank of Ethiopia (NBE) has set its initial policy interest rate at 15 percent, setting the rate by accounting for inflation, low base money growth, and a marked [...]Faulu Bank Receives KSh 900Mn boost from Old Mutual
Microfinance institution, Faulu Bank, intends to restrategize its operations by leveraging on digital banking after receiving KSh 900 million from its parent company, Old Mutual. Over the last 18 months, [...]KCB Settles With Competition Authority Over Misleading Credit Card Ad
The Competition Authority of Kenya (CAK) has gazetted a settlement it made with KCB last year following a complaint that the lender had mislead a client on credit card charges [...]NCBA Group Acquires Insurer AIG Kenya
NCBA Group has announced the completion of its 100% acquisition of AIG Kenya Insurance Company Limited (AIG Kenya) from its parent company AIG Group, Inc. NCBA plans to tap into [...]Banks, Lenders Need Treasury Approval to Raise Interest Rates- Supreme Court
In a landmark ruling with far reaching consequences for banks and other lending institutions, the Supreme Court has affirmed an earlier decision that a bank should seek approval from Treasury [...]
