CFC Stanbic blames low Mortgage Application on High Interest Rates
CFC Stanbic Bank’s share in mortgage business dropped to eight per cent last year from 13.6 per cent in 2009 despite raising its mortgage book to Sh6.6 billion from Sh6.1 billion in the same period. The head of retail banking at CFC Stanbic Mr Elly Odhong says the bank attributes…
What do Reducing Bank Interest Rates Mean?
Recently Standard Chartered Bank reviewed its interest rate on unsecured loans down from 23% to 19.9%. Last week, Barclays Bank followed suit and lowered the interest rates on some of its financial products. According to the Daily Nation, Housing Finance managing director Frank Ireri…
TransCentury to issue KES 0.25 dividend for shareholders
TransCentury Limited, one of Kenya’s forefront companies in terms of investments in infrastructure projects with interests in East African Cables, Kewberg Cables, Avery Africaand operation of the Kenya-Uganda Railway Concession, announced its results for the financial year ended December 2011 on Friday 23rd March 2012. In his…
Deadline for Payment of Land Rates Draws Near
Nairobi property owners have 5 days left to pay their land rates or be liable to a penalty of 3% per month for any rates unpaid thereafter. Legal action has already been commenced on defaulters with a view to auction their properties to cover rates. You can check on how…
Closing Bell 23/3/2012
Top Gainers Price Change TPS Eastern Africa (Serena) 48.50 +7.18 Sasini Ltd 10.45 +4.50 Uchumi Supermarket Ltd 10.40 +4.00 NIC Bank Ltd 0rd 25.75 +3.00 Kenya Commercial Bank Ltd 22.25 +2.30 Top Losers …
TPS Serena Share Drops To New Low
TPS Serena today opened trading on the Nairobi Securities Exchange at Kshs. 45, 25 cents down from yesterday’s closing price of Kshs. 45.25. The share however rebounded quickly and jumped Kshs. 4 from the day’s low to trade at Kshs. 49. An important observation is that the Kshs.
KQ Hits New 12 Month Low
The Kenya Airways share price today dropped to a new 12-month low. The counter opened trading this morning and immediately dropped 5 cents to open at Kshs. 13.60, down from yesterday’s close of Kshs. 13.65. At about 12.14pm today, the KQ share touched the new 12-month low of Kshs.
Housing Business Still Lucrative?
The rush to cash in on the housing industry could still be on after all. Despite the numerous developments coming up in upmarket and low end places, the demand for housing still remains high. Statistics show that Kenya has an annual housing demand of about 210,000 units against an average…
BRITAK TANKS: Reports a Loss In 2011
The British American Investments Company Limited announced its audited financial statements for the year ended 31st December 2011 on Wednesday 21st March. The company reported a net loss of Kshs. 1,957,305,000 in the financial period ended 31st December 2011. In the previous period ending 31st December 2010, the company…
Give Me My Rights: Understanding the KQ Rights Issue
On 17th October 2011, Kenya Airways announced that its board of directors, having considered and approved the funding requirements of KQ for its future expansion plans, approved that part of such funding be raised by a way of a rights issue to the existing shareholders of KQ. KQ intends…
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