Articles Posted in the " News " Category

  • Mobile money’s quick growth transforming financial services

    By Titus Mbithi Mobile banking apps have greatly transformed how Kenyans access loans, and consumers no longer need to fill out lengthy forms, pledge collateral or undergo vetting by a mean- looking credit officer. Take the example of Branch, a Facebook-linked mobile application that allows users to borrow and repay micro-loans via mobile money platform […]

  • Jamii Bora Bank invests in own ATM network

    By Titus Mbithi Jamii Bora Bank has invested Sh13 million ($130,000) to roll out its own Automated Teller Machines (ATMs) network. The bank was previously riding on the Kenswitch network but has launched its own network under the JBB MiniBank brand. The bank’s Chief Executive Officer Mr Samuel Kimani said they had installed the machines […]

  • Kenyan Saccos on the verge of joining national payment system

    Savings and credit co-operative societies in Kenya are set for integration into the mainstream of financial service providers, a development that could see commercial banks lose third-party businesses. An umbrella body of financial sector regulators has given the go-ahead for Saccos to lend money to each other through a Central Liquidity Facility (CLF). This is the first […]

  • KCB falls behind Equity in first quarter profit

    KCB Group, Kenya’s largest lender by assets, reported earlier this month profit after taxation for three months through March rose by a marginal 6.19 per cent to Sh4.63 billion, boosted by increased interest earnings. The bank’s profit, however, fell behind its main competitor Equity Bank whose net profit rose19.30 per cent to Sh5.13 billion, also […]