KCB Appoints Dr James Bagaka as Non-Executive Director
KCB Group has appointed Dr James Obuya Bagaka as Non-Executive Director on its board with effect from 6th October, 2020. Dr Bagaka brings to the boardroom, vast experience and expertise [...]
Absa Kenya Boosts SME Lending to Aid post Virus recovery
Absa Bank Kenya is boosting its lending initiatives towards Small and Medium-sized Enterprises (SMEs) to help businesses recover from the adverse effects caused by COVID-19. The bank will offer short [...]
Access Bank in Talks to Acquire Mozambique's BancABC, Eyeing a Stronger African Network
Access Bank has announced a definitive agreement to acquire Atlas Mara's BancABC, building on its strategic focus to enhance profitability and risk metrics through geographic expansion. The continent's largest retail [...]CBK Records an End-Year Surplus of KSh41.5 Billion
The Central Bank of Kenya(CBK) recorded a net surplus of KSh 41.5 Billion compared to KSh 26.1 Billion in the financial year ended 30 June 2020. According to its financial [...]Listing Loan Defaulters with CRBs Resumes
Banks will begin to forward names of loan defaulters to credit reference bureaus (CRBs) for blacklisting according to a statement from the Central Bank of Kenya. The financial regulator has [...]Fitch Affirms Afreximbank’s BBB- Credit Rating
The rating agency, Fitch rating, has affirmed the African Export-Import Bank (Afreximbank) long term Issuer Default Ratings (IDR) at ‘BBB-‘with a stable outlook. The agency also affirmed the Bank’s Short-term [...]
Banks Restructure KSh 1.12 Trillion Worth of Loans
Commercial banks have restructured over KSh 1.12 trillion worth of loans since April according to data from the Central Bank of Kenya (CBK). Out of this, personal/household loans amounting to [...]Kenya Shilling on the ropes ahead of Central Bank policy meeting
Traders and forex dealers are keenly watching the Kenya Shilling ahead Tuesday's meeting by the Monetary Policy Committee (MPC), a top policy organ of the Central Bank of Kenya (CBK). [...]Brexit triggers exodus of multinational banks from London
The final exit of United Kingdom from the European Union or Brexit, to be concluded by December, has prompted an increasing number of multinational banks using the U.K to access [...]Kenya Bankers Association Annual Research Conference Set for this Week
The Kenya Bankers Association will hold its 9th annual banking research conference on Wednesday 23 to Friday 25 September. The event will bring together more than 200 delegates under the [...]Disruptions as NCBA Begins 5-day Systems Upgrade
NCBA is undertaking a core banking system upgrade that will affect all its branches. The upgrade began on Thursday at 18.00 hours and it will end on 21st September at [...]Ethiopia Spends $ 97 Million on New Banknotes
Ethiopia is spending $ 97 Million (KSh 10.5 Billion) to print new banknotes, a move authorities say will lock out illicit financial flows, hoarding, and other illegal activities. According to [...]
