Banks free to set higher interest rates as Uhuru approves Finance Bill

By Kepha Muiruri,

President Uhuru Kenyatta has signed into the law the Finance Bill 2019 giving nod to among other provisions, the free setting of interest rates by com...

Finance Bill 2019 , interest rate caps , KBA

Banks promise not to take advantage of interest cap removal

By Kepha Muiruri,

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...

CBK , interest rate caps , KBA

MPs leave Kenyans at the mercy of banks as rate caps fall

By Kepha Muiruri,

Members of Parliament (MPs) have left Kenyans at the mercy of banks on the rate charged on new loans as the interest rate caps fall. In a chaotic v...

KRA owes banks Ksh.13B in irrecoverable taxes – report

By Kepha Muiruri,

The Kenya Revenue Authority (KRA) owes commercial banks an estimated Ksh.13.3 billion in irrecoverable taxes mirroring on the sector’s disproportion...

KBA , KRA

Lenders to cover Ksh.500K after Chase Bank, Imperial, Dubai saga

By Kepha Muiruri,

Commercial banks will begin covering deposits for an estimated 98 percent of customers as from July next year. This follows amendments of provision...

chase bank , Dubai Bank , imperial bank

Kenyans break ‘last minute’ stereotype as deadline for old Ksh.1K notes closes

By Kepha Muiruri,

Commercial Banks registered average to routine operations on Monday as the window to change over to the new currency Ksh.1000 notes came to a close. ...

CBK , demonetization , new notes

Businesses break off use of old Ksh.1000 notes days to Oct 1 deadline

By Kepha Muiruri,

Consumers looking to transact in the old series Ksh.1000 note face the risk of rejection by businesses as many of the enterprises dissociate themselve...

CBK , demonetization

Banking staff to get 6% pay raise in new CBA

By Kepha Muiruri,

Bank employees are set to receive a six percent raise on their salaries following a new agreement between the Banking, Insurance and Finance Union (BI...

BIFU , CBK , KBA

Banks holding more money than ever before as Kenyans suffer empty wallets

By Kepha Muiruri,

Combined, commercial banks are now holding more cash reserves than ever before even as the private sector languishes in a cash-crunch strangle hold. ...

CBK , Kenya Bankers Association (KBA)

KCB trims payout to Imperial Bank depositors after revised offer

By Kepha Muiruri,

KCB Group has trimmed its final payout to deposits held under the Imperial Bank Limited in Receivership (IBLIR) by Ksh.6.5 billion in a revision of it...

IBLIR , imperial bank , KCB

Banks profitability heading for the rocks, KBA warns

By Kepha Muiruri,

Growth in earnings by commercial banks will soon grind to a halt under prevailing macro-economic conditions, the Kenya Bankers Association (KBA) has w...

CBK , interest caps , Kenya Bankers Association

88 Stanbic employees jobless after bank’s voluntary retirement plan

By Kepha Muiruri,

Stanbic Bank has accepted the voluntary retirement of 88 of its staff members under its ongoing rationalization plan which is embedded on cost-cutting...

portland cement employees , Stanbic Bank Kenya , telkom employees

Banks ask parliament to revise interest rate capping law

By Kepha Muiruri,

Commercial Banks now say if parliament will not repeal the interest rate capping law, it should at least widen the capping band to allow flow of credi...

CBK , interest rate caps , Kenya Bankers Association , National Treasury

Digital payments on the rise in hidden-sight

By Kepha Muiruri,

Digital payments have continued to rise inconspicuously to break the trend of cash dominance discretely, even as cash remains king in the settlement o...

CBK , Communications Authority of Kenya (CA) , digital payments in Kenya , financial inclusion

Real estate brokers ease fears of sector crashing even as property prices fall

By Kepha Muiruri,

Developers in the real estate industry have quelled fears of an impending crash to one of Kenya’s key economic segment even as property prices remai...

Cytonn Real Estate , Hass Consult , Knight Frank , real estate in Kenya , Regent Group

Kenya 7s skipper Ojee named sports personality of the month

By Agencies,

KCB Rugby winger Jacob Ojee is the StarTimes Sports Personality of the month of May. Ojee was instrumental as the bankers bagged their third consec...

Jacob Ojee , Kabras Sugar , KCB , Kenya Cup

How the rate cap sparked change to an ‘indisciplined’ financial sector

By Kepha Muiruri,

The interest rate cap has brought a substantial level of positive change to the financial sector this in spite of its well documented regressive effec...

Central Bank of Kenya , interest rate cap law , Jude Njomo , Kenya Bankers Association , National Treasury

Why new notes are taking time to hit your wallet

By Kepha Muiruri,

While a number of Kenyans have already gotten their hands on the new age currency notes, a similar proportion is yet to interact with the new notes to...

Central Bank of Kenya (CBK) , demonetization , New currency

Cheap homes to shakeup housing market

By Kepha Muiruri,

The fruition of the government backed cheap homes initiative is expected to create a radical shift in the housing market, this as the sector on boards...

affordable housing , Jared Osoro , KBA-HPI , KMRC

‘CRB should stop listing individuals over Ksh.100 debt ’- Olaka

By Kepha Muiruri,

Commercial banks have welcomed the ongoing conversation to review the law governing Credit Referencing Bureaus (CRBs), highlighting on gross inconsist...

CBK , CRBs , Habil Olaka , Kenya Bankers Association , Metropol , patrick njoroge