NIC Bank Posts Sh723m Profit
NIC Bank Group has announced a 38 per cent increase in profit after tax for the first quarter of 2012, to hit Sh723 million. Managing director James Macharia attributes the increase in profit to growth in loan advances and an increase in non-funded income. Over a…
PM Asks Banks to Cut Lending Rates
Prime Minister Raila Odinga in statement read at the Banking Survey Awards asked commercial banks to cut down their lending rates to 16%. The premier noted that the government mobilized MPs to vote against capping of interest rates and asked the banks to show appreciation by lending to the people…
Barclays Steps up Junior Saving
In a trend setting programme, Barclays Bank of Kenya has undertaken to raise awareness on savings amongst children using education entertainment (edutainment) platforms across major towns in Kenya. As part of its market development programme, to entrench the Barclays Junior Eagles Club Account, Barclays Bank…
CBA Opens Branch in Thika
Commercial Bank of Africa (CBA) has kicked off its retail expansion with the opening of a new branch in Thika town. The new branch, strategically located at the Central Business District of Thika town, offers a wide variety of services to the high networth…
Increase in Use of Mobile Money
The rapid uptake of mobile money transfer and banking has been attributed to the continued demand of the service’s ability to address banking issues. More particularly, low income earners who do not have access to banking services have been in the frontline in the growth of the service, offered by…
NIC Seeks Shareholder Approval at AGM to Increase Authorised Share Capital
NIC Bank has released a notice of the Annual General Meeting (AGM) in the local dailies. This will be the 52nd AGM of the shareholders of NIC Bank and will be held at the Kenyatta International Conference Centre in Nairobi on Wednesday 2nd May 2012. The bank’s profit after tax…
Family Bank Seeking Agents
Family Bank Kenya is looking for agents to roll out its agency services throughout the country. This is in its quest to increase its customer base by reaching as many Kenyans as possible. The requirements for registering as an agent (Sole proprietor/partnership) are as follows; Must…
Can Consumers Benefit From Banks' Competition?
Competition has been a very effective tool in making life more affordable for consumers in Kenya and other parts of the world. This has been very evident in the telecommunication industry where the nation witnessed a plunge in calling rates as a result of competition. The same has been evident…
Banks Offer Solution To High Interest Rates; Mobility of Collateral
The commercial banks through the Kenya Bankers’ Association have tabled new proposals aimed at convincing legislators to drop their quest to control interest rates. One of the key proposals is to allow banks to transfer existing loans to cheaper rivals- mobility of collateral. This ability to transfer loans means the…
Banks Resist Interest Rate Control.
Commercial banks have remained adamant on the issue of control of interest rates by parliament. Gem MP Jakoyo Midiwo sparked the interest rates debate with his bid to amend the Finance Bill to insert a clause that sets a base for deposit rates and a cap on lending rates. The proposed…
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