Revised CBK Guidelines Effective 1st January 2013
The new Prudential Guidelines and Risk Management Guidelines issued by the Central Bank of Kenya (CBK) for all applicants intending to be licensed, conduct banking, mortgage or financial business in Kenya will come into effect on 1st January 2013. “Pursuant to its mandate of fostering…
Central Bank Slashes Base Lending Rate to 11%
The Central Bank's Monetary Policy Committee has come to the rescue of borrowers slashing the base rate to 11% down from 13%, with commercial banks expected to follow suit. Falling inflation and a stable local currency have been the major drivers for this move.
Dont Take Sweets for Change, Says CBK
There are sufficient coins in circulation, The Central Bank has assured, removing the need for supermarkets and shops giving customers sweets in place of coins for change on shopping.
Diaspora Remittances Decline 2.4% In September
Diaspora remittances in the month of September declined by 2.4% attributed to lower remittances from the European region. The overall trend shows that remittances have been increasing over the months.
Equity Reports 58% Growth in Pretax Profit
Equity Bank has announced a profit before tax increase of 58% netting KES 10.9 billion in the 3rd quarter riding on high customer deposits and low interest paid on deposits.
Bank Agents, DTMs Push Sector Growth
Growth in the number of transactions handled by Agents for banks has kept the growth of the Banking sector in Kenya steady. There are 14,168 active agents facilitating over 24.7 million transactions in the 3rd Quarter
Drop in CBR Increases Demand for Credit
The reduction in the Central Bank’s base rate in September has increased the demand for new loans from different sectors in the economy. According to reports from the Central Bank of Kenya, trade and personal loans saw the highest increase in demand for new loans with the…
The Mobile Money Apocalypse; What Would Happen to Your Money?
After M-Pesa servers crashed putting the services off last weekend, issues on safety and security of mobile money platforms which are relied on by millions of Kenyans have emerged. How safe is your Mobile money?
Banking Sector Grows in 3rd Quarter
The Kenyan Banking Sector has shown continued growth in the 3rd quarter that ended September 30th 2012 compared to 2nd quarter. According to statistics from the Central Bank of Kenya, the sector continued to register improved performance with the size of assets…
KQ Passenger Numbers Drop on Domestic Routes
Kenya Airways carried lesser passengers on the local routes in the 2nd quarter of 2012 compared to the numbers it achieved last year in the same period. In a statement released today, on the domestic front, capacity reduced by 9.6% compared to similar period last year. The national…
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