NCBA

NCBA
In Brief
Kaunga Junior

NCBA’s 90th branch opens in Eastleigh

NCBA Bank Kenya has launched its 90th branch in Eastleigh, Nairobi, as it seeks to tap one of the country’s busiest business hubs. The opening of the Eastleigh branch follows the successful opening of the lender’s Kahawa Sukari branch last month. Deputy Director, Retail Banking at NCBA, Jane Nganga said as Kenya’s third largest bank, serving over 60 million customers across the region, the bank needs physical presence to enhance customer experience and offer advisory. Lenders are reversing the branch closures we saw in the recent past due to shift to mobile banking, leveraging back to brick and mortar in the fight for market share

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NCBA
CorporateNews

NCBA first quarter profit up 49 percent to Sh5.1 billion

NCBA Group’s net profit for the quarter that ended March has surged by 49 percent to Kes5.1 billion from Kes3.4 billion in Q1 2022 attributable to an increase in operating income and a decline in loan impairment charges. Despite the tough macroeconomic conditions, the Group’s prudent management of credit risk has resulted in an improved NPL ratio and a reduced cost of risk. In the quarter, loan loss provision eased by 23 percent down year on year to Kes2 billion in a period when the lender’s loans on digital platforms went up by 37 percent to Kes223 billion. Further, customer deposits increased 7 percent to…

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KCB Govt securities
EconomyNews
Otiato Guguyu

Banks exposure to GoK debt cut to a decade low

Local Kenyan lenders are holding the smallest portion of state debt in almost ten years as banks dump government securities on rate hikes, heightened risk of default and the possibility of restructuring. Central bank data shows the portion of domestic debt held by banks stood at 45.64 percent in April down from 54.8 percent in June 2020.   The last time banks held less than 50 percent of domestic debt was 49.4 percent in March 2014, and have been accumulating risk free state debt over the decade, (especially during the rate cap era) to a high of 57.8 percent in July 2015. Kenyan banks hold Kes2…

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Supermarket chain Naivas.
News
Dredan Njau

Hacked! The dark side of the internet

I hear there are days when a phone ringtone was literally answered by person by whiping out a classic rep flip phone to answer the call. Back then, the ‘flip’ or the ‘slide’ was the privilege among the creme de la creme. We are told the children of today will never get the joy of playing the game “Snake Xenzia” or bounce with the famous cell phones like Nokia 3310 or as we call them today “katululu”. It almost seems hieroglyphics to imagine writing makeshift emojis using semi colons, hyphen and parenthesis, or the weird “xaxa” texts and sending a disclaimer saying “usinitext nimerudisha simu”….

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