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Companies Co-op Bank owners recoup capital from large dividends Thursday, May 23, 2019 19:54 By PATRICK ALUSHULA Co-op Bank’s #ticker:COOP owners will recoup their entire capital from dividends alone this year, with long-term investors such as Co-op Holdings Co-operative Society and the lender’s CEO Gideon Muriuki
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By REUTERS More by this Author Kenya’s Safaricom will start a joint venture with Vodacom to acquire the intellectual property rights to the popular M-Pesa mobile financial services platform from Britain’s Vodafone, Safaricom’s CEO said on Thursday. The $13.4 million deal will let both purchasers make
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Agricultural Finance Corporation says the agency will not waive loans advanced to farmers and warned defaulters to brace themselves for stiffer penalties. Speaking during farmers training workshop at the Agricultural Training Center in Kitui Town, AFC board chairman Franklin Bett said farmers owing loans will have to service them as
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* Reuters 23rd May 2019 11:45:23 GMT +0300 The Kenyan shilling was under pressure on Thursday due to merchandise and oil importers buying dollars to meet their end-month obligations, traders said. At 0747 GMT, commercial banks quoted the shilling at 101.20/40 per dollar, compared with 101.15/
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There were protests against the Kenya Commercial Bank and National Bank Of Kenya acquisition this morning, Kenyan Business Feed can exclusively report. The group of protesters carried placards as they protested against the move by Kenya's biggest bank KCB to buy the National Bank Of Kenya. The protests
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News KCB falls behind Equity in quarter one profit race Thursday, May 23, 2019 10:30 By PATRICK ALUSHULA KCB Group #ticker:KCB fell behind close rival Equity Group #ticker:EQTY in the race for the most profitable lender in the first three months of the year despite posting a
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KCB Group has announced an 11.5 percent growth in profits for the first three months of the year to Ksh.5.8 billion. The notable increase in earnings is attributable primarily to a surge in non-interest funded income which improved by 10.6 percent to Ksh18.8 billion. This
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Companies Prime Bank’s net profit jumps 20pc to Sh567m Wednesday, May 22, 2019 21:01 By BRIAN NGUGI Prime Bank has reported a 20.4 percent jump in net profit for the first quarter ended March on higher interest and transaction-based income. The lender’s profit stood at Sh567.
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Companies DTB books Sh60 million gain in Habib acquisition Wednesday, May 22, 2019 21:00 By PATRICK ALUSHULA Diamond Trust Bank (DTB) #ticker:DTK booked a bargain purchase gain of Sh59.8 million on acquisition of Habib Bank Limited’s (HBL) branch operations and assets. The bank has disclosed that
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- The net profit jumped from KSh 5.2 billion in first quarter of 2018 to KSh 5.8 billion - Growth was attributed to among other things a healthier loan book and drop in interest expenses - KCB Group boss Oigara said performance was also as a result sustained
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Companies Credit Bank ranked amongst top performing banks Wednesday, May 22, 2019 20:51 By BD REPORTER | Credit Bank scoops best leading bank in its category during Think Business Banking Awards 2019 amongst other awards. Think Business Banking awards recognizes Credit Bank amongst top performing banks during the gala awards.
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Co-operative Bank Group announces a pre-tax profit of Sh5.1 billion for the first quarter of 2019 compared to Sh4.9 billion recorded in the first quarter of 2018. This is a steady growth of 4.4 per cent against the backdrop of a challenging economic environment in the period.