Bank of Kigali first quarter profit up 15pc to $16m

Nairobi, May 30 -- Bank of Kigali (BK Group) net profit for the first quarter ended March 2023 rose by a 14.5 percent to Rwf17.88 billion ($16 million), driven by increased interest and transaction in... Read More

CBK reveals cheapest and most expensive Kenyan banks

Nairobi, May 29 -- Small lenders such as First Community Bank (FCB), Ecobank of Kenya and HF Bank dominate the list of banks offering lower interest rates in the latest regulatory disclosure that puts... Read More

Storm over State plan to tax insurance payouts

Nairobi, May 26 -- Insurance customers will start parting with 16 percent tax on the money paid to them by insurers as compensation for their losses, if the proposal whose interpretation has split tax... Read More

High fuel prices drive down motorcycle sales

Nairobi, May 26 -- The rising fuel prices have cut boda boda and tuk-tuk operators' margins, leading to reduced demand for motorcycle sales. Car & General, one of the major sellers of motorcycles in ... Read More

KCB Group injects extra Sh1.2bn in Ugandan unit

Nairobi, May 26 -- KCB Group has disclosed an additional Sh1.2 billion equity investment in the Ugandan unit during the financial year ended December 2022 as it moved to strengthen its subsidiaries. ... Read More

State loans to parastatals breach Sh1 trn mark amid defaults spike

Nairobi, May 25 -- The value of government loans to State corporations has crossed the Sh1 trillion mark despite the persistently low pace of repayments that have led to write-offs in some instances. ... Read More

KCB first quarter profit drops 3pc to Sh9.5bn on DRC unit costs

Nairobi, May 24 -- KCB Group net profit for the first three months of the year has dropped by 2.9 percent to Sh9.5 billion on increased costs, including that of consolidating the unit it acquired in t... Read More

HF targets to recover Sh10 billion legacy bad debt

Nairobi, May 24 -- HF Group is targeting to recover Sh10 billion non-performing loans (NPLs) and raise fresh capital to meet the minimum level required to comply with the Central Bank of Kenya (CBK). ... Read More

CBK clears 20pc sale of Nyachae-linked Credit Bank

Nairobi, May 23 -- Credit Bank, which is linked to the family of late politician Simeon Nyachae, has been cleared by the banking industry regulator to sell a 20 percent stake to a Mauritius-based priv... Read More

CBK approves PE firm 20pc stake purchase in Credit Bank

Nairobi, May 22 -- Mauritius-based private equity fund Shorecap III, LP has received Central Bank of Kenya (CBK) clearance to acquire a 20 percent stake in Credit Bank, deepening deals in the Kenyan b... Read More