Kenya's Forex Reserves Fall by $1 Billion to $7.75 Billion in 2020
The level of foreign exchange reserves held by the Central Bank of Kenya fell by $1 billion to $7.75 billion on 31st December 2020 compared to $8.758 billion held on [...]
Equity Group get nod to merge its subsidiary with BCDC Bank, Congo
Equity Group has received regulatory approval to merge its subsidiary Equity Bank Congo (EBC) and Banque Commercial Du Congo (BCDC).The new bank will be known as Equity Banque Commercial du [...]
Central Bank of Egypt Extends Waiver on Bank Transaction Fees to June 2021
The Central Bank of Egypt has extended the suspension of withdrawal fees from ATMs and waivers on fees and commissions for banking transactions in the Egyptian pound. The measures in [...]
Diamond Trust Bank (DTB) Issues Profit Warning
Listed tier 1 lender Diamond Trust Bank (DTB) Kenya Limited has issued a profit warning for the financial year ended December 2020. In a statement, the bank said its earnings will [...]Kenya's Central Bank Gears Up For Open Banking in New 5-Year Strategy
The Central Bank of Kenya has published its 2021-2025 vision and strategy document which sets the agenda on the future of the country's digital payments ecosystem including the adoption of [...]Mwalimu National SACCO fully acquires Spire Bank
Mwalimu National SACCO has fully acquired Spire Bank from Naushad Merali for undisclosed amount. The deal to sell off Spire Bank begun in 2014 when the Competition Authority (CA) gave [...]NIC Securities to cease operations after Merger with CBA
NIC Securities has applied to the Capital Markets Authority (CMA) concerning its request to cease operations. This investment bank is associated with the former NIC Bank, which has since merged [...]Equity Group's Balance Sheet Crosses $10 Billion Mark After BCDC Migration
Equity Group's balance sheet has crossed the Ksh 1 trillion mark after migrating Congo's Banque Commercial Du Congo (BCDC) into its core banking platform. The BCDC migration made it the first bank [...]Absa Bank Kenya Issues Profit Warning
Absa Bank Kenya Plc, formerly Barclays Bank Kenya Limited has issued a profit warning saying its net profit for the 2020 full year is expected to decline significantly mainly triggered [...]Kenya's Central Bank Announces Expiry of Waivers for Mobile Money Transactions
The Central bank of Kenya has announced that the emergency waivers for mobile money transactions will expire on December 31, 2020. The regulator said the measures established on March 16st 2020, [...]Kenya's Biggest Banks Grow Their Market Share
The nine largest banks in Kenya increased their market share in the banking industry to 74.68% in 2019 from 70.28% in 2018 according to Central Bank's Banking Supervision Report. The [...]CBK Weekly T-Bills auction raises KSh 9.7 Billion
The Central Bank of Kenya (CBK) Treasury Bills Auction, accepted KSh 9.7 Billion worth of bids from the KSh 24 Billion that had been offered to investors by the Central [...]
