Tag Archives: banking sector

Faulu Microfinance Bank has modernised its core banking system as it looks to expand beyond its traditional focus on micro, small and medium-sized enterprises (MSMEs) and attract larger businesses. The upgraded platform is expected to increase the lender’s capacity to scale operations, improve service delivery and respond to the evolving …

Co-operative Bank recorded a 28 percent increase in profit after tax to Sh18 billion in the first half of 2026, compared with Sh14.1 billion posted during a similar period last year. The lender attributed the strong performance partly to a 13 percent rise in net interest income, which reached Sh33 …

State-owned Consolidated Bank of Kenya recorded a significant rise in profit after tax, reaching Sh174.83 million in the six months to June 30, 2026, up 1,349.5 percent from the previous period. The strong performance was driven by growth in both net interest and non-interest income. Net interest income increased by …

Citibank Kenya has filed a petition at the High Court seeking to stop investigators from summoning, questioning or prosecuting one of its employees over the approval of a $2.02 million (about Sh261 million) loan issued to Kiru Tea Factory Company Limited. According to court documents filed under HCCHRPET/E373/2026, the bank …

The Board of I&M Group PLC has appointed Abdi Mohamed as the incoming Chief Executive Officer of I&M Bank Kenya, subject to approval by the Central Bank of Kenya (CBK). In a statement issued to shareholders on Monday, the lender announced that Mohamed will join the bank from Absa Bank …

South African lender Nedbank Group has submitted a tender offer to purchase approximately 66 percent of NCBA Group’s ordinary shares, which would give Nedbank a controlling interest in the Kenyan financial services company if the deal goes through. The remaining 34 percent of NCBA shares would continue to be traded …