CBK to Monitor Mobile Money
The Central Bank of Kenya (CBK)will start monitoring mobile money transaction in its quest to fight cyber crime related cases. Although there haven’t been many reported hacking cases in the current money transfer platforms, there is a growing need to secure the platforms due to the growing use…
Minister Calls On Banks To Lower Interest On Loans.
Finance Minister Njeru Githae has urged banks to lower the interest rates on loans to encourage Kenyans to access loans. Speaking at the opening of Ecobank’s Karen branch, Githae said the inflation rate is at 16% now and it would not hurt banks if they charged interest at rates of…
Chase Bank reports 58% profit increase
Source: chasebankkenya.co.ke Chase Bank, a privately-owned winner of the Special Award for Product Innovation, 2nd Runner up- Best Bank in Product Innovation, 3rd Runner up- Best Bank in SME at the 2011 Annual Banking Awards has announced its results for the year 2011. The company has reported a gain…
New innovative Products from Ecobank
Ecobank in the last four months has rolled out a series of innovative products all aimed at diversifying its services and response to customer needs. These include the Retail Internet Banking, Salary Advance Account and the launch of the Visa Chip cards. In the…
Ecobank opens new Branch
Ecobank has officially opened a new branch in Nairobi. The New Ecobank Karen branch, the bank’s 24th in the country and 10th in Nairobi was officially opened by Finance Minister and Ndia MP Njeru Githae. The Tobank, which was first introduced in Kenya in…
Coop Bank Services Now Available on Yu Cash
yuCash, the mobile money service of yuMobile, has entered into an agreement with Cooperative Bank that will enable its subscribers transfer money to any Cooperative Bank account through their registered yuCash lines. The partnership is expected to extend convenience for individuals and small businesses who rely…
NIC Bank to join the Agency Banking Wagon
On Wednesday, NIC Bank entered into an agency banking partnership agreement with Kenya Post Office Savings Bank (Postbank). This means that NIC Bank customers will be able to benefit from Postbank’s wider branch network of 97 as compared to NIC’s 20 branches. They will be able to make…
Equity Bank to give more loans to SMEs
Equity Bank Group announced that it has teamed up with the International Finance Corporation (IFC) to extend more loans to micro, small and medium size enterprises, agricultural projects and women entrepreneurs in the region at a press conference held at their headquarters on Wednesday 28th March 2012. The…
Chase Bank Kenya Makes KES 602M After Tax in 2011
Chase Bank has reported a 58 percent increase in profit after tax from KES 381 million in 2010 to 602 million in 2011. Corporate Social Responsibility has been very high on the Bank’s agenda following a donation of KES 30 million toward the…
Lenders to Benefit from Accessible Borrowers' Information
Sharing of information about borrowers and their repayment habits has a significant impact on efficiency and expansion of the credit markets. Speaking at the launch of the second phase of the Credit Information Sharing (CIS) project, Central Bank of Kenya Governor…
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