Kenyan Banks restructure loans worth KSh 844.4 Billion as virus hits businesses
Kenyan Banks have so far extended the repayment period for loans amounting to KSh 844.4 Billion or 29 % of the banking sector's KSh 2.9 Trillion loan book. This is [...]
Mobile Lenders Oppose CBK's Bid to Cap Interest Rates
Mobile lenders have opposed CBK's proposed amendment that seeks to cap interest rates. Players in the mobile lending space say that capping interest rates would hurt credit flows in a [...]
Stanbic Named Kenya's Best Investment Bank by EuroMoney Awards
EuroMoney Awards for Excellence 2020 named Stanbic Bank Kenya as Kenya's best investment bank, attributed to the lender's ability to deliver solutions across a range of products and services to its [...]Moody’s Affirms Afreximbank’s Baa1 Rating
Global credit ratings agency, Moody's, has affirmed African Export-Import Bank (Afreximbank) long-termcredit rating at Baa1, with a stable outlook. Baa1 is the 8th-highest rating in Moody's Long-term Corporate Obligation Rating. [...]Virus Triggers Increased Loan Defaults in Kenya's Credit Market
There are all indications that commercial banks will experience a significant increase in the number of loan defaulters as the global coronavirus pandemic affects virtually all sectors of its economy. [...]Kenya's Central Bank Drafts New Laws to Regulate Non-Bank Digital Loans
The Central Bank of Kenya (CBK) will regulate interest rates charged on mobile loans by digital lending platforms if amendments on the Central bank of Kenya Act pass to law. [...]IM Signs Agreement to Acquire 90% of Uganda's Orient Bank
IM Holdings PLC has issued a cautionary announcement advising its shareholders of a proposed transaction between the bank and Uganda's Orient bank Limited, which may affect the value of its [...]NCBA Permanently Closes 14 Branches
NCBA has permanently closed 14 of its branches, eight which formerly belonged to NIC, and six to CBA, before the merger. According to the bank, the closures seek to cut [...]Fitch Revises KCB Outlook to Negative
Fitch Ratings has revised the Outlook on KCB Group from stable to negative due to the expected impact of coronavirus. The American rating agency says there is a limited probability [...]Lipa na Mpesa B2B Transactions Hit KSh 878 Billion
The latest report from the Communication Authority values Customer to Business (C2B) transactions via Mpesa (Lipa na Mpesa) in the first quarter of 2020 at KSh 310.1 Billion, accounting for [...]Tirus Mwithiga Joins NCBA as Retail Banking Director
NCBA Group has appointed Tirus Mwithiga as the Retail Banking Director, with effect from 4th May 2020. The position has remained vacant since NIC Bank and the CBA Group merged [...]Safaricom Loses Petition to Limit Free Mobile Money Transactions
Safaricom lost a petition to limit free transactions between two people, in a bid to protect revenues. The Telco wanted to cap the free transactions at five, to limit incidences [...]
