Category: KCB
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KCB to offer financial services to Dutch firms
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KCB Group has signed a deal to provide diversified financial services to Dutch companies entering the Kenyan market in a major boost for the country’s largest bank. On Wednesday, KCB Group signed a memorandum of understanding with Dutch company Invest International to establish the Dutch office. “The new platform will…
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StanChart, KCB top in Sh78bn banks’exposure in State firms
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Standard Chartered Bank Kenya (StanChart) and KCB Bank Kenya top the list of banks having loan exposure worth Sh78.2 billion in government entities as of end-June 2024. The latest disclosures from the National Treasury show that Standard Chartered Bank has the highest exposure, lending Sh16.62 billion at the end of…
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StanChart, KCB top in Sh78bn banks’exposure in State firms
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Standard Chartered Bank Kenya (StanChart) and KCB Bank Kenya top the list of banks having loan exposure worth Sh78.2 billion in government entities as of end-June 2024. The latest disclosures from the National Treasury show that Standard Chartered Bank has the highest exposure, lending Sh16.62 billion at the end of…
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KCB shuts 31 branches in Rwanda in consolidation strategy
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KCB Group closed 31 branches in Rwanda in the six months to June 2024, as part of a shift to agency banking and a consolidation strategy following the acquisition of the Bank of the Rwandan People (BPR), which was later merged with an existing subsidiary in the same market. The…
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KCB sheds 362 jobs in voluntary early exit
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KCB Group saw 362 of its employees accept the voluntary early retirement offer last year after the bank opened the programme at the request of its employees. Most of the voluntary exits were in the Kenyan operations, where 211 employees accepted the offer, including 100 employees at the bank’s subsidiary…
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NCBA overtakes KCB, Equity in high value accounts
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NCBA Bank Kenya has outperformed its major competitors, including KCB Bank Kenya and Equity Bank Kenya, to hold the largest number of high-value accounts with deposits of over Sh100,000 at the end of December. The latest banking supervisory report showed that NCBA’s high net worth accounts more than doubled to…
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NCBA overtakes KCB, Equity in high value accounts
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NCBA Bank Kenya has outperformed its major competitors, including KCB Bank Kenya and Equity Bank Kenya, to hold the largest number of high-value accounts with deposits of over Sh100,000 at the end of December. The latest banking supervisory report showed that NCBA’s high net worth accounts more than doubled to…
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Pinewood Beach Resort appeals to block KCB takeover
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The owner of Pinewood Beach Resort and Spa has moved to the Court of Appeal to prevent a reception manager appointed by KCB Bank from taking over the establishment in Kwale. In an application dated May 3, ITCO Investments Ltd, which runs the hotel, said there was a real risk…