CBK Raises KSh 29.7 Billion from Weekly T-Bills Auction, 126.6% Subscription Rate
The Central Bank of Kenya(CBK) accepted bids worth KSh 29.66 Billion from the weekly Treasury Bills auction that was held on Thursday 12th November 2020. This is against bids worth [...]
Equity Group Q3 Net Earnings drop 14.6% to KSh 14.8 Billion
Equity Group Plc net profit slumped by 14.6% to KSh 14.8 Billion at the end of the third quarter period ending 30th September 2020 from KSh 17.3 Billion posted in [...]Stanchart Kenya to lay off 14% of Workforce Amid Covid-19
Standard Chartered Bank, one of Kenya’s top lenders, has begun a process to lay off about 200 employees which represent about 14% cut in its workforce as the bank looks [...]
KCB Posts KSh10.9 Billion Net Profit in Q3
Kenya's leading bank by asset value, KCB Group, has posted a 43% drop in net profit for the nine months that ended on 30th September 2020 to KSh 10.9 billion, [...]
Kenya Court of Appeal Authorises Taxation on Card Interchange Fees
Consumers using a debit or credit card to make purchases may have to pay higher charges as the Court of Appeal gave leeway for taxation on interchange fees. A three-judge [...]
New Study Seeks to Identify Entrepreneurs Likely to Pay Back Debt
A new study launching this month seeks to identify suitable candidates for loan and credit services among young entrepreneurs, helping financial service providers lend to small entrepreneurs in the informal [...]Access Bank Launches in Kenya
Nigeria's Access bank has today launched its operations in Kenya after acquiring a 99.9% stake in privately owned Transnational Bank of Kenya. The Nigerian lender paid KSh1.4 Billion for the [...]IM Rwanda Rights Issue Oversubscribed by 12%
IM Rwanda has announced the successful completion of the rights issues that closed with an oversubscription of 12 percent. The bank undertook the rights issue to secure long-term funding to [...]Ms Winnie Ouko Resigns as Absa's Non-Executive Director
Ms Winnie Ouko has resigned from Absa Bank Kenya Plc's Board as an independent non-executive director, with effect from 30th October 2020, to pursue other career interests. Since her appointment [...]NCBA to Layoff Staff as Pandemic Bites
NCBA has embarked on a lay off exercise as the COVID-19 pandemic has significantly affected its operations. The bank says that COVID 19 has affected the execution of its growth [...]CBK Raises KSh16.5 Billion from Weekly T Bills Auction
The Central Bank of Kenya (CBK) accepted bids worth KSh 16.5 Billion out of Treasury Bills worth KSh 24 Billion it had offered, representing a subscription rate of 72.14%. Investors [...]Mergers Will Continue to Define Kenya's Banking Industry; NCBA CEO
The Kenya Bankers Association #CEOChat forum kicked off early Friday morning under the theme Banking Industry Growth and Consolidation Trends Amid Heightened Uncertainty. My Chat with a Bank CEOis a [...]
