Browsing: National Bank of Kenya

• In the three months to March 2023, Group’s total assets rose by 39.8 percent to close at $11.8 billion buoyed by DRC subsidiary TMB.
• Revenue increased by 26.9 percent to $267.4 million mainly driven by the non-funded income from customer transactions across the Group.
• This is the Group’s newest subsidiary in the Democratic Republic of Congo.
• It demonstrated the range and diversified income streams across the group’s businesses, adequate to cover the elevated operating and funding costs.

Regional lender KCB Group Plc posted $68.8 million in profit after tax for the first quarter 2023, a marginal drop attributable to acquisition and consolidation costs of its newest subsidiary, Trust Merchant Bank (TMB), in the Democratic Republic of Congo.

In the quarter, however, the Group recorded a strong balance sheet growth with total assets hitting $11.8 billion, with TMB contributing 14 percent to the Group’s total assets. The bank said this was …

• The National Bank of Kenya (NBK) has appointed George Odhiambo as the Managing Director.
• The position was previously held in an acting capacity by Peter Kioko, the Finance and Strategy Director since June 2022.
• Odhiambo is a seasoned banker, and the outgoing MD BPR Bank Rwanda Plc since its inception last year, following the merger between KCB Bank Rwanda Plc and Banque Populaire du Rwanda.

The National Bank of Kenya (NBK) has appointed George Odhiambo as the Managing Director. The position was previously held in an acting capacity by Peter Kioko, the Finance and Strategy Director since June 2022.

Odhiambo is a seasoned banker, and the outgoing MD BPR Bank Rwanda Plc since its inception last year, following the merger between KCB Bank Rwanda Plc and Banque Populaire du Rwanda. He was the immediate former MD, KCB Bank Rwanda Plc and joined KCB in 2009 as Head, Business Analytics, KCB …

• National Bank of Kenya has committed to United Nations Global Compact Principles on Responsible Business
• NBK will be required to submit an annual Communication on Progress (CoP) report, demonstrating to its stakeholder its progress in working towards the Ten Principles of the UN Global Compact

Kenya’s National Bank of Kenya (NBK) has signed up to the United Nations Global Compact, reinforcing its commitment to uphold and protect human rights, labour, environment, and anti-corruption principles through its business practices.

With its signing, NBK has committed to adopting ethical and responsible business practices in its day-to-day operations and organizational culture.

Speaking during the signing ceremony, NBK Managing Director Paul Russo noted that participating in the United Nations Global Compact will strengthen its commitment to the UN Sustainable Development Goals (SDGs) even as they continue to develop their sustainable social and environmental responsibility programs, aimed at creating shared value for communities in which …

The informal sector in Kenya employs approximately 14.9 million Kenyans and contributes an estimated 28 per cent to the country’s Gross Domestic Product…