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Bank jobs on the line as COVID-19 wreaks havoc on industry
By Kepha Muiruri,
1039, November 16, 2020 (EAT)
Bank jobs are now on the line as institutions in the industry trim costs to weather the economic impact resulting from the COVID-19 pandemic. Simil...
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NCBA to fire staff as post-merger ship wobbles
By Kepha Muiruri,
1604, October 31, 2020 (EAT)
Kenya’s third largest bank by asset base NCBA is set to fire staff as a response to constrained operation barely one year on from its CBA, NIC conso...
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NCBA Group records Ksh.2.4B pre-tax profit for quarter ending March 31
By Citizen Reporter,
1249, May 20, 2020 (EAT)
The NCBA Group PLC (NCBA) has recorded a pre-tax profit of Ksh. 2.4billion for the quarter ending March 31, 2020. Total operating income for the qu...
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Over 20,000 formal jobs in Kenya may be lost this year due to coronavirus
By Faizal Ahmed,
1650, April 3, 2020 (EAT)
Over 20,000 formal jobs may be lost this year in Kenya due to the coronavirus outbreak. Economists from NCBA Bank stated that the scale of job loss...
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NCBA projects GDP to drop to 2.3% this year due to coronavirus
By Citizen Reporter,
1322, April 3, 2020 (EAT)
NCBA Bank is projecting the country’s Gross Domestic Product (GDP) to decelerate sharply to 2.3% in 2020. This is if the COVID-19 pandemic persis...
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NCBA posts Ksh.7.8 billion profit from merger gains
By Kepha Muiruri,
1620, March 25, 2020 (EAT)
NCBA Group has posted a 56 percent growth in profit after tax for the period ending December 2019 to Ksh.7.8 billion from merger gains. The results...
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M-Shwari loans hit Ksh.430B in seven years
By Imani Mitchelle,
939, December 12, 2019 (EAT)
The last 7 years have seen mobile lending service M-Shwari disburse loans amounting to over Ksh 430.5 billion. It has attracted over 450,000 custom...
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‘Greedy’ lenders to blame for feared hike on bank loan rates
By Kepha Muiruri,
958, November 16, 2019 (EAT)
The interest rate charged on your new loan is inevitably set to rise in the aftermath of the interest rate cap repeal in spite of assurances from the ...
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Banks promise not to take advantage of interest cap removal
By Kepha Muiruri,
2050, November 6, 2019 (EAT)
Banks have vowed not to go back to the exorbitant interest rates they were charging before the introduction of the rate caps which was removed on Tues...
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CBA to acquire 53% stake in merger with NIC Bank
By Kepha Muiruri,
1547, January 31, 2019 (EAT)
NIC bank has announced plans to handover up to 53 percent of its stake to the Commercial Bank of Africa (CBA) shareholders, setting the expected merge...
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Banker calls for Govt stimulus to support economic growth
By Sophie Kinoti,
1008, March 24, 2018 (EAT)
The government has been encouraged to increase its spending and meet payments to contractors and suppliers to stimulate economic growth. According ...
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NIC defies trend, opens 4 branches at the Coast
By Citizen,
1807, January 12, 2018 (EAT)
NIC Bank is set to open four new branches at the Kenyan coast in the near term as part of its effort to grow its customer base. The new branches wi...
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Bad loans dampen NIC Bank’s 2016 profit
By Citizen,
2247, March 8, 2017 (EAT)
The continued growth of non-performing loans has weighed down NIC Bank’s profit for the year ended December 2016. During the period, the listed b...
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NIC forges ahead with branch expansion despite industry cut backs
By Citizen,
1708, February 10, 2017 (EAT)
Despite the cut backs in the banking sector, NIC Bank plans to continue with branch expansion to reach customers. The bank, which today opened its ...
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NIC Bank Q3 profit dips to Sh3.4bn on high NPL provisions
By Citizen,
2137, November 23, 2016 (EAT)
NIC Bank has registered flat profit growth in the nine month period to September, posting a net profit of Sh3.4 billion. The bank attributes its st...
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Govt. mulls plans to merge Youth, Women, Uwezo funds
By Sophie Kinoti,
1849, November 1, 2016 (EAT)
The government has renewed plans to merge state managed funds in an effort of making lending more affordable. The move will see the Uwezo, Youth En...
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Banks to go mobile to cut costs, boost growth
By Reuters,
1311, October 19, 2016 (EAT)
Commercial banks are focusing on mobile banking to lower costs and build new revenue streams after the government capped commercial lending rates, but...
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NIC Bank to curtail credit cards after Kenyan cap on loan rate
By Reuters,
1706, October 7, 2016 (EAT)
NIC Bank will issue fewer credit cards and may demand collateral in some cases because of a government cap on what banks can charge for loans, its chi...
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Banks call for changes to credit information sharing system
By Citizen,
1806, September 16, 2016 (EAT)
The government’s move to cap interest rates has now shifted focus to how borrowers will engage banks in loan negotiation. With the capping likely...
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NIC takes over five Imperial Bank branches to facilitate payments
By Abalon Babisho,
1319, July 22, 2016 (EAT)
NIC Bank is set to take over and re-open five Imperial Bank branches across the country as it prepares to process payments to depositors. The move ...
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