COVID-19 sets the stage for accelerated bank mergers and acquisitions

By Kepha Muiruri,

The COVID-19 pandemic is expected to trigger a new run of mergers and acquisitions (M&As’) as Kenya’s banking industry shifts under the weight...

banking in Kenya , Central Bank of Kenya (CBK) , COVID-19 , mergers and acquisitions

Former KAM Chairman Sachen Gudka among 5 new Kenya Power directors

By Citizen Reporter,

The Board of Kenya Power has appointed five new directors at a time when the company is rolling out its growth strategy. They are Abdulrazaq Ali, E...

KENYA POWER , Sachen Gudka

Co-operative Bank full year profit rises to Ksh.14.3 billion

By Kepha Muiruri,

The Co-operative Bank has posted a 12.6 per cent growth in profit after tax to Ksh.14.3 billion for the year ending on December 31, 2019 on the back o...

Co-operative Bank , profit

Co-op Bank joins acquisitions train in Jamii Bora interest

By Kepha Muiruri,

The Co-operative Bank of Kenya has expressed interest in acquiring Jamii Bora’s 100 per cent issued share capital in a transaction which is now subj...

CBK , Co-operative Bank of Kenya , jamii bora

Bank mergers out do acquisitions in profitability

By Kepha Muiruri,

The consolidation of banks through mergers has emerged as a more profitable venture in comparison to acquisitions, fresh data from the Central Bank of...

Central Bank of Kenya (CBK) , mergers and acquisitions

CBK approves KCB’s acquisition of National Bank of Kenya

By Kepha Muiruri,

The Central Bank of Kenya (CBK) has approved the 100 percent share capital acquisition of the National Bank of Kenya (NBK) by the KCB Group. The re...

CBK , CMA , KCB , NBK

All hands on deck: Rotich assures Parliament of proper checks on KCB-NBK deal

By Kepha Muiruri,

The National Treasury has defended its position on perceived laxity under the ongoing procedures in the acquisition of the National Bank of Kenya (NBK...

CBK , CMA , Henry Rotich , KCB-NBK acquisition , National Treasury

Jubilee eyes strong firms in strenuous market

By Kepha Muiruri,

Top insurer Jubilee is keen to consolidate on its market position in underwriting through mergers and acquisitions. This as the insurance industry ...

Jubilee Holdings

Bank consolidation gathers steam as DTB sets out to acquire Habib

By Citizen,

The banking sector continues to undergo realignment with mergers becoming a common theme. Diamond Trust Bank (DTB) has become the latest lender to ...

Acquisition , bank consolidation , banking , banking regulator , business plans , CBK , Central Bank of Kenya , diversity , DTB Bank , Fidelity Bank , Giro Bank , Habib Bank , I&M Holdings , investment , Merger , over banked , pakistan , realignment , SBM Holdings , Spire Bank , tier one bank , treausry

CBK set to end new bank licensing freeze

By Citizen,

The Central Bank of Kenya (CBK) has hinted towards lifting the suspension of licensing new banks. This as the banking regulator announced on Monday...

approvals , bank supervision , CBK , Central Bank of Kenya , DIB Bank , Dr. Patrick Njoroge , Dubai Islamic Bank , Fidelity Bank , Giro Bank , imperial bank , Mayfair Bank , moratorium , new bank license , pre-licensing conditions , regulator

KLM CEO exits Kenya Airways board

By Sophie Kinoti,

KLM president and chief executive Peter Elbers has stepped down as a director of national carrier Kenya Airways. Mr Elbers who joined the board of ...

airline , Aviation , board of directors , commercial viability , Dutch carrier , international routes , Joint Venture , Jos Veenstra , Kenya Airways , KLM , Mbuvi Ngunze , Michael Joseph , operation pride , Peter Elbers , restructuring

U.S. accuses Chinese citizens of hacking law firms, insider trading

By Reuters,

Three Chinese citizens have been criminally charged in the United States with trading on confidential corporate information obtained by hacking into n...

Mauritian bank eyes Kenyan market with Fidelity acquisition

By Sophie Kinoti,

A Mauritius based financial services firm has announced plans to acquire Fidelity Commercial Bank by the end of the year. SBM holdings, which is th...

Acquisition , Banking Sector , BSM Holdings , Duet Group , FCB , Fidelity Commercial Bank , mauritius , mergers and acquisitions , shore up capital requirements , Stock Exchange of Mauritius , tier three lender

ECB rebrands to Spire Bank with new plan for growth

By Sophia Jerotich,

pace with peers in the banking sector. The bank has re branded to Spire Bank as its new owners, Mwalimu National Sacco, look to make the bank compe...

agency banking , ECB , Equitorial Commercial Bank , expansion , Mwalimu Sacco , SME , Spire Bank

VIDEO: Gov’t to merge three commercial banks

By Patrick Igunza,

The government has hinted to the possibility of merging three commercial banks it has a stake in into one entity. The move according Treasury Cabinet ...

banks , commercial banks

Build healthy customer relationships, AKI tells insurers

By Agencies,

Financial experts are challenging insurers to invest in research, innovation and create healthy consumer relationships in order to overcome low insura...

africa , AKI , Association of Kenya Insurers , Ernst and Young , EY , insurance regulatory authority , IRA , kenya , Life Insurance , Vision 2030.

Barclays Bank Kenya says exit will not impact jobs

By Agencies,

The chief executive of Barclays Bank Kenya said on Tuesday that a decision by Barclays Plc to sell its Africa business would not lead to job cuts in t...

barclays bank kenya , business , jobs

CBK suspends licensing of new commercial banks

By Agencies,

The Central Bank of Kenya has suspended the licensing of new commercial banks, two sources within the bank said on Tuesday. The sources said the ce...

CBK , Central Bank of Kenya , commercial banks , imperial bank