(NAIROBI, KENYA) – Co-operative Bank of Kenya customers borrowed KES2.4 billion ($14.7 million / £12.1 million) through digital overdrafts in the seven months to July, pointing to rising demand for short-term credit to cover cash gaps when paying bills and making purchases. The lender said the digital lending product, Kamilisha,Continue Reading
(NAIROBI, KENYA) – Kenyan banks will expand lending to green enterprises under a five year partnership between the Global Green Growth Institute and the Kenya Bankers Association signed in Nairobi. The two institutions signed a Memorandum of Understanding to strengthen sustainable finance, promote green investment and mobilise public and privateContinue Reading
(NAIROBI, KENYA) – NCBA Group shareholders who sold a 66% stake to Nedbank have booked a capital gain of KES21.4 billion ($138 million / £109 million) on the 43.63 million discounted shares of the South African bank. The gain comes after a rally in Nedbank shares since the conversion rateContinue Reading
(NAIROBI, KENYA) – Equity Group CEO James Mwangi’s stake in the lender climbed to a record KES13.42 billion ($104 million / £81.9 million) on Thursday as the bank’s share price extended a six session gaining streak on the Nairobi Securities Exchange (NSE). Mwangi, who owns 127,809,180 Equity shares, has seenContinue Reading
(NAIROBI, KENYA) – Standard Bank Group aims to strengthen its position in East Africa through internal growth rather than acquisitions, even as South African rivals Absa Group and Nedbank Group complete major deals in Kenya. Standard Bank Chief Executive Officer Sim Tshabalala said the bank plans to expand in theContinue Reading
(NANYUKI, KENYA) – SBM Bank Kenya has opened its 34th branch in Nanyuki, marking its entry into the Mt Kenya region as it targets customers in agriculture, tourism, real estate and small businesses across Laikipia County. The new branch, located at Peak Place Building in Nanyuki Town, is expected toContinue Reading
(NAIROBI, KENYA) – HFCB Plc Group has reported a 59.9% increase in profit after tax for the half year period ended June, driven by higher earnings from lending and other banking activities. The mid-tier lender’s net profit rose to KES 998.3 million (about $7.6 million / £6 million / €7Continue Reading
(NAIROBI, KENYA) – The Central Bank of Kenya has approved the acquisition of up to 66% of NCBA Group by South Africa’s Nedbank Group, clearing a key hurdle for the conclusion of the KES 110 billion (about $838 million / £659 million / €769 million) transaction. Investors in the NairobiContinue Reading
(NAIROBI, KENYA) – Absa Bank Kenya and Co-operative Bank of Kenya recorded the highest pre-tax earnings from bancassurance among listed lenders in the first half of 2026, as banks increased their push into insurance distribution to diversify income beyond lending. Disclosures show Absa generated KES 1.1 billion (about $8.4 millionContinue Reading
(NAIROBI, KENYA) – Kenyan farmers, businesses and private consumers will gain access to expanded vehicle and agricultural equipment financing under a new partnership between Absa Bank Kenya PLC and Simba Corporation. The two companies have signed a Memorandum of Understanding (MoU) that combines Simba Corporation’s automotive and agricultural machinery rangeContinue Reading
