The Kenya Deposit Insurance Corporation (KDIC) has announced the implementation of the risk-based insurance premium model for commercial banks which had been suspended last year due to the Covid-19 crisis. The model…
BANKING
Family Bank has recorded a 63.6 percent increase in its profit before tax for the first six months of the year 2020. A Kenya Shillings 852.1 million profit up from…
The Kenya Deposit Insurance Corporation (KDIC) has announced the implementation of the raised deposit insurance coverage of KSh 500,000 from KSh100,000 aimed at compensating depositors in case of a bank collapse. The…
KCB Group PLC has announced a Shillings 11.1 billion total dividend payout to shareholders for the financial year ended 31st December 2019, an increase from the Sh10.7 billion dividend paid out…
The Africa Development Bank, (AfDB) recently fired back at World Bank’s President David Malpass. In a press release, they accused Malpass of making statements that are not fact-based saying the…
We know banks to be reservoirs which hold money. In return, they earn by charging service fees. As such, you don’t have to scratch your head trying to find a…
“Data Is the New Oil of the Digital Economy. Data in the 21st Century is like Oil in the 18th Century”. That is a common phrase these days that most…
First Internet Bancorp operates First Internet Bank of Indiana as a bank holding company. It is one of the very first state-chartered, FDIC-insured banking institutions that doesn’t have any brick…
The year 2017 will probably be more associated with the forth-coming general elections in Kenya and whatever will happen thereafter but this is also the year M-PESA turned ten. M-pesa…
It is slightly over a month since CBA launched their mobile banking app dubbed the CBA Loop – Unbank yourself. I honestly do not know how they justified the use…
Chase Bank has sued its former chairman and former senior managers in an effort to recover billions of shillings they are accused of illegally siphoning from the lender during their…
A total of 2 million bank customers have signed up for the newest money transfer service, PesaLink owned by the bankers’ umbrella body. The milestone has been achieved barely…
March 13th 2017, that’s when CBA announced her Mobile Banking App – the CBA Loop – which is an App that is meant to “eliminate the need for visiting a…
Sacco’s have been warned on the need to strengthen their cyber defenses as the cybercrime continues to pose a threat to member’s personal information, deposits, and transactions. Speaking at…
Earnings before tax rose 10% from KShs. 26.5 billion; posted the same period last year, to KShs. 29.1 billion profit for the full year ending December 31, 2016. This was…
Interswitch Group has announced that 12 Banks in Kenya have signed with Verve International. Verve International is the company’s payment solution which allows customers to make payments across the lenders’ network in over 3,000 point of…
3.35trillion. This is the amount of money moved via mobile money transfer in the last one year. This represents a 20% growth from the previous year to hit the 3trillion…
Pesalink may be what brings an eventual end to the use of cheques, Payment cards and Electronic funds transfer. This is according to analysts at Ecobank Africa. A shorter settlement…
Ecobank Kenya has launched Ecobank Mobile App. This will enable an instant way of banking via the mobile phone by allowing customers to shop, transact and do business on…
Commercial banks and telecommunications companies are lagging behind in implementing a directive to disclose all fees on mobile money transactions to the customers. According to the Competition Authority of Kenya…
About six banks, out of the 43 who are members of the Kenya Bankers Association (KBA), have received regulatory approval from Central Bank of Kenya (CBK) to launch a mobile…
Kenya Bankers Association (KBA) has appointment the management team that will run its fully-owned mobile banking and payments technology subsidiary, Integrated Payments Services Ltd. (IPSL). Ms Jennifer Theuri will serve…
Preference in the fixed income market for the past week was skewed towards short-term paper. The overall subscription came in at 76.6%, compared to 82.5% recorded the previous week. The…
The CBK Weekly Report revealed that the interbank rate increased by 80 bps to 8.3%, from 7.5% registered the previous week, a reflection of the skewed liquidity distribution in the…
Equity Bank is putting on hold the Eazzy Plus Loans. Eazzy Plus Loan was attractive due to the fact that consumers could apply for loans payable in two months to…
There is some good news to all the Imperial Bank depositors. Verified depositors will be able to access additional funds of up to a maximum of 10 percent of their…
The Monetary Policy Committee (MPC) of the Central Bank of Kenya has reviewed the outcome of its previous policy decisions and the recent economic developments. The meeting held against the…
Of the challenges faced by online businesses in Kenya including warehouse logistics, ontime delivery nightmare, and risks associated with cancellation of orders, payment methods top the list. Most Kenyans do…
A treasury bill is a short-term borrowing instrument issued by the Government through the Central bank of Kenya (the fiscal agent) to raise money on short term basis – for…
The following are instructions on how and when to invest on Government Treasury Bills: Any potential investor MUST have an active and updated CDS account at Central Bank of Kenya. 91-,…