NBK Customers Profit from High Interest Rates
National Bank of Kenya customers are profiting from Kenya’s volatile economy. According to the Bank’s Managing Director, Reuben Marambii, customers have been getting higher interest rates on their deposits due to inflation. Loans and advances from the company have therefore declined owing to the high cost of lending…
IMF Pushes for Increased Food Tax
Kenyans may have to pay more for milk, bread and maize flour if the government passes the 2012 Value Added Tax (VAT) Bill. According to the Consumer Federation of Kenya, the International Monetary Foundation (IMF) is pushing the government to impose a 16% tax…
DTB Shareholders to wait for Returns
Diamond Trust Bank (DTB) stakeholders will not benefit from a 21% increase in the Group’s earnings per share. According to a press release from the company, the Board of Directors will not compensate the shareholders with an interim dividend for this announcement period. “Shareholders should not…
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Get a free upgrade for your Startimes T1 decorder to T2 Decorder on condition Pay subscription. If you are have a basic bouquet, pay for seven months advance viewing and get a free T2 decorder. If you have a Basic plus, Classic and India bouquet, pay…
Consolidated Bank Short KES2.3 Billion of Target
Consolidated Bank is KES 2.32 billion shy of its KES 4billion target. After recently concluding the first phase of its bond issue, in which it auctioned almost half of its projected stock, the bank managed to raise KES 1.68 billion in the cash call with a subscription rate…
First Independent KPRL Deal Promises Cheaper Fuel Rates
Consumers can breathe a sigh of relief as Kenya Petroleum Refineries Ltd (KPRL) moves to reduce its operational cost. The refiner had been at the mercy of Oil Marketing Companies (OMCs) because previous legislation did not allow it to import its own crude oil. A new system has now been…
A Bank Account in Your Pocket
What if you could manage all your finances by clicking a few buttons on your phone? Kenyan banks may be closer to realising this than you think. Several financial institutions have adopted the trend in a bid to cash in on the fast-growing mobile market.The CBK…
A Few Things You should Know about Loan and Credit Reference Bureaus
Facts about loans and Credit Reference Bureaus
Diamond Trust Plans to Expand its Reach
“Diamond Trust Bank (DTB) plans to open new branches in other parts of Africa,” the bank’s General Manager, Alkarim Jiwa told the media during yesterday’s cash call. The bank has its sights set on Mozambique, South Sudan, Madagascar, The Democratic Republic of Congo and Rwanda to add to…
How Much Extra Mileage Will You Enjoy?
The latest Energy Regulatory Commission (ERC) fuel price review saw the price of super petrol drop by KES 9.21, from Ksh 117.67 to Ksh 108.46 and diesel dropped by Ksh 8.01, from Ksh 105.51 to Ksh 97.50. This means, if your car has a 50 litre capacity…
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