Closing Bell: CFC Stanbic Top Gainer as Pan African Insurance Declines
Closing Bell: CFC Stanbic Top Gainer as Pan African Insurance Declines CFC Stanbic (CFC) was the top gainer at the NSE today. It gained 5.88% to close the day at KES 108 which was a KES 6.00 gain in share price. Pan African Insurance (PAFR) was the top loser as…
Banks demand retrenchment insurance for borrowers
Banks demand retrenchment insurance for borrowers Commercial banks are increasingly demanding insurance cover against retrenchment for customers seeking personal loans, signaling increased concerns over the rising load of bad debts. Commercial Bank of Kenya (CBA) last week announced a requirement for salaried borrowers seeking secured and…
Tobacco farmers to lose as sponsor scales down operations
Tobacco farmers to lose as sponsor scales down operations Global raw tobacco merchant, Alliance One International, has announced plans to scale down its operations in Kenya, a move expected to hit farmers hard. Its core operations involve sponsoring farmers to produce tobacco mainly in Migori County, processing and exporting to…
Closing Bell: Kakuzi Limited Top Gainer as Flame Tree Declines
Kakuzi Limited (KUKZ) was the top gainer at the NSE today. It gained 7.14% to close the day at KES 300.00 which was a KES 20 gain in share price. Flame Tree Group Holdings was the top loser at the NSE with a drop of 7.87% to close the day…
Co-op Bank jumps ahead of StanChart in NSE stock value
Co-op Bank jumps ahead of StanChart in NSE stock value Cooperative Bank’s market value has jumped ahead of Standard Chartered to become the third-largest listed lender, for the first time putting indigenous banker in the top-three spots.Cooperative Bank is now valued at Sh105 billion—behind leaders KCB and Equity—with its share…
Closing Bell: Scangroup Limited Top Gainer
Scangroup Limited (SCAN) was the top gainer at the Nairobi Securities Exchange (NSE). The counter registered a gain of 6% to close the day at KES 39.75. This was a KES 2.25 gain in share price. British American Tobacco Kenya was the worst performing share registering a drop of 8.28%…
Shilling’s decline could scale down ballooning imports
Shilling’s decline could scale down ballooning imports The recent weakening of the shilling against the dollar could help address Kenya’s uncompetitive production of goods and reduce imports, economists at CfC Stanbic say. The shilling is still relatively strong in real exchange rate compared to the currencies…
Closing Bell: Standard Group Limited Top Gainer as CFC Stanbic Declines
Standard Group Limited (SGL) was the top gainer at the Nairobi Securities Exchange. The counter had a gain of 9.77% to the close the day at KES 36.50. This was a KES 3.25 gain in share price. CFC Stanbic Holdings Limited (CFC) closed the day as the top loser registering…
Britam pulls plug on low-income individual cover
Britam pulls plug on low-income individual cover Britam is pulling the plug on an increasingly popular low-end cover for individuals launched with Safaricom in January last year. Individuals who bought the Linda Jamii covers will still continue to get the services until expiry but no new…
Equity to cede 2.3pc stake in Congolese bank acquisition bid
Equity to cede 2.3pc stake in Congolese bank acquisition bid Equity on Tuesday last week announced that three institutional investors — German firm ProCredit, Belgian development finance institution BIO and Dutch fund DOEN — that respectively own 61 per cent, six per cent and 12 per…
Inflation eases to 6.87pc on rising food supply
Inflation eases to 6.87pc on rising food supply The Kenya National Bureau of Statistics (KNBS) data shows that inflation fell from an eight-month high of 7.08 per cent last month, helped by increased supply of food items due to the onset of heavy rains. May’s Inflation reduced to 6.87 per…
Closing Bell: Flame Tree Group Top Gainer While Car & General Declines
Flame Tree Group Holdings Limited was the top gainer at the Nairobi Securities Exchange (NSE). The counter registered a gain of 6.13% to end the day at KES 8.65. This was a KES 0.50 gain in share price. Car & General (Kenya) Ltd closed the day as the worst performing…
StanChart earnings dip 28 per cent on bad loans
StanChart earnings dip 28 per cent on bad loans Standard Chartered Bank Kenya recorded a 28 per cent drop in net profit in the first quarter ended March, as bad debts took a toll on its earnings. StanChart reported a net profit of Sh1.8 billion in the three months compared…
Closing Bell: National Bank of Kenya Best Performing Share at the Exchange
National Bank Of Kenya Ltd was the top gainer at the Nairobi Securities Exchange (NSE). The counter registered a gain of 8.31% to end the day at KES 21.50. This was a KES 1.65 gain in share price. National Bank of Kenya today posted a 20 percent rise in first-quarter…
Co-op Bank sees Sh1.8bn boost after McKinsey reforms
Co-op Bank sees Sh1.8bn boost after McKinsey reforms The Co-operative Bank estimates that it will get a Sh1.8 billion profit boost from cost savings and operating efficiencies resulting from last year’s restructuring that led to 160 staff layoffs. Co-op Bank says the restructuring process which it completed in December at…
1
