National Bank of Kenya has re-branded itself as part of a new strategy aimed at transforming it into one of the top tier banks in the country in the next five years. Announcing the new move at a dinner in Nairobi today, NBK Managing Director, Munir Ahmed, said that the bank is seeking to grow
Equity Bank has notified the NSE, Capital Markets Authority and CBK of its decision to reorganize its finance function both at the Group level as well as the Kenyan subsidiary. The Board reached this decision following transitions that have taken place at the top level management of this function within the Group. Releasing the new
Standard Chartered Kenya has announced a pre-tax profit of KShs 2.7 billion for the period ended 31 March 2013. Total income remained flat at KShs 5.4 billion with loans and advances up by 22% to KShs 117.3 billion. Financial Highlights: • Net interest income grew by 2% to KShs 3.7 billion driven by strong growth
At a function held at the Bank of Mauritius Tower, the Bank of Mauritius (the Bank) granted a new banking licence to Barclays Bank Mauritius Limited, a locally incorporated wholly owned subsidiary of Barclays Bank PLC, UK. Barclays Bank PLC, UK is currently conducting its banking activities in Mauritius through its branch, the Barclays Bank
Visa in Kenya announced the launch of Visa Personal Payments (VPP) in collaboration with Equity Bank, East Africa’s largest commercial bank by customer base. Visa Personal Payments is a convenient, cost-effective and secure way for consumers to send funds directly to recipients with Visa cards, both domestically and internationally. Equity Bank is the first bank
The Central Bank of Kenya says that generally, the banking sector was sound and stable and recorded improved performance in 2012 as indicated by Total net assets which increased by 15.3 percent from Ksh. 2.02 trillion in December 2011 to Ksh. 2.33 trillion in December 2012, with the growth being supported by the increase in
Cambria announced it has executed agreements with a subsidiary of Johannesburg based Nisela Capital (Nisela) relating to the placement of US$ 2 million in convertible debt into its Payserv subsidiary. Half the proceeds of the financing will remain with Payserv, the other half will flow to Cambria. Proceeds of the financing will be used to
Nedbank is entering the Mozambican banking market by acquiring an initial 36.4% shareholding in Banco Unico for $24.4m, subject to various conditions and regulatory approvals both in Mozambique and South Africa. Banco Unico is currently the sixth largest full service bank in Mozambique, established in 2011 by the Portuguese Investment company Group Americo Amorim Holdings
Equity Bank Group’s profits after tax jumped 22 percent to Kshs 3.21 billion from Kshs 2.63 billion posted within the same period last year. Despite a challenging business environment characterized by uncertainty from the recent general elections and falling interest rates, prudent cost and risk management saw Equity Bank’s total income rise by 13 percent
Centenary Bank of Uganda has unveiled CenteMobile, a mobile banking service for its customers. The service supports funds transfers, account and statement queries as well as airtime purchases and bill payments. It can be accessed on all mobile networks including MTN, Airtel, Warid, Orange and Uganda Telecom. The service is supported for both simple and smart phones.
