Shilling remains in free fall as it crosses Ksh.111 mark against the dollar

By Kepha Muiruri,

The Kenyan shilling has remained in a free fall as it crosses a new confidence marker to trade past Ksh.111 mark against the US dollar. The local u...

Central Bank of Kenya (CBK) , Dr. Patrick Njoroge , shilling

Banks put on the spot for mimicking ‘rogue’ digital lenders

By Kepha Muiruri,

Commercial banks have been put on the spot for resembling digital lenders by saddling Kenyans with exorbitant mobile loans. This is as the traditio...

Central Bank of Kenya (CBK) , fuliza , Kenya Bankers Association (KBA)

Banks loan restructures hit Ksh.1.4T in October

By Kepha Muiruri,

Local banks have now restructured Ksh.1.38 trillion in customer loan repayments as part of relief measures passed on to borrowers over COVID-19 relate...

banks , Central Bank of Kenya (CBK) , coronavirus , COVID-19

KCB plans to acquire Rwandan and Tanzanian banks

By Reuters,

Kenya’s top lender by assets, KCB Group, plans to acquire 62.06% in Banque Populaire du Rwanda and 100% in African Banking Corporation Tanzania Limi...

African Banking Corporation Tanzania , Banque Populaire du Rwanda , KCB

FKF boss Mwendwa in race for FIFA Council seat

By Jacob Icia,

A month after his reelection, Football Kenya Federation (FKF) president Nick Mwendwa is now running for a seat in the all-powerful FIFA Council, the m...

CECAFA , Fifa Council seat , FKF , Nick Mwendwa

Why the CBK isn’t losing any sleep over banks sinking profitability

By Kepha Muiruri,

Banks earnings continue to take a beating from economic disruptions occasioned by the COVID-19 pandemic. This however is merely a secondary concern fo...

Central Bank of Kenya (CBK) , Dr. Patrick Njoroge , Kenya Bankers Association (KBA)

Investors in publicly listed firms at NSE set for barren dividends season

By Kepha Muiruri,

Investors in publicly listed firms at the Nairobi Securities Exchange (NSE) are set for barren dividends returns for the year as companies continue to...

dividends , nse , profits

Absa Bank nine month profit falls by 66 per cent

By Kepha Muiruri,

Absa Bank Kenya PLC has reported a 66.1 per cent profit wipe out in nine months to September to Ksh.1.9 billion from Ksh.5.6 billion last year. The...

Absa

Shabana banking on new recruits in quest for FKF-PL slot

By Dan Ogega,

National Super League side Shabana is counting on the new signings to help them realize their dream of earning promotion to the FKF Premier League nex...

FKF PL , New signings , Shabana , Wycliffe Nyangechi

Bank jobs on the line as COVID-19 wreaks havoc on industry

By Kepha Muiruri,

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...

banks , Central Bank of Kenya (CBK) , non-performing loans

SBM to close five branches in consolidation drive

By Kepha Muiruri,

Mauritius-backed lender SBM has announced plans to shut down five of its branches as it seeks to rationalize its operations. In a notice to custome...

NBK bad loans exposure shrinks to Ksh.29 billion

By Kepha Muiruri,

KCB Group has continued its clean up of the National Bank of Kenya (NBK) books with the lender’s share of gross non performing loans (NPLs) shrinkin...

49 percent of ‘rich’ Kenyans fall behind loan repayments

By Kepha Muiruri,

Nearly half of all Kenyans with a stable financial footing have fallen behind their loan repayments revealing the extent of the economic distress in t...

COVID-19 , debt , Kenya Bankers Association (KBA)

Biden plans move into White House as Trump clings to hope

By Reuters,

U.S. President-elect Joe Biden will further lay the groundwork for his new administration on Wednesday as President Donald Trump pursues a flurry of l...

Donald Trump , Joe Biden

BOA Kenya granted exemption to CBK ownership rules

By Kepha Muiruri,

The Bank of Africa (BOA) Kenya Limited has been exempted from the Central Bank of Kenya (CBK) ownership rules for up to five years. The exemption b...

Access Bank unveils Kenyan operations after Transnational takeover

By Kepha Muiruri,

Africa’s largest retail lender Access Bank has unveiled local operations in the country following its acquisition of Transnational Bank at the end o...

Access Bank , Transnational Bank

WhatsApp rolls out payment service in India

By Tonny Ndungu,

Facebook-owned WhatsApp has rolled out its WhatsApp pay feature to users across India, enabling them to make secure payments through its messaging pla...

WhatsApp Pay

NCBA to fire staff as post-merger ship wobbles

By Kepha Muiruri,

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...

job cuts , John Gachora , NCBA

US federal agency pays record Ksh.12 billion to whistleblower

By CNN,

Someone just scored a $114 million payday -- without playing the lottery or stepping into a casino. Instead, the check was signed by Uncle Sam. The...

US federal agency , whistleblower

Sidian Bank launches online bid bond platform expanding its trade finance market

By Citizen Reporter,

Sidian Bank has launched a new product allowing both existing and potential customers of the Bank to generate bid bonds from anywhere, anytime and on ...

Sidian Bank