Browsing: NCBA

• The latest Nairobi Securities Exchange monthly Barometer shows month-on-month growth comparing January this year and December last year, with prospects looking much better after a bear run last year.
• Market capitalisation increased by 0.08 per cent in January to $9.11 billion from $9.05 billion in December 2023.
• The NSE 20 and NSE 25 Share Index recorded increases in activity of 0.89 per cent and 1.32 per cent, respectively, while the All-Share Index experienced a 0.08 per cent increase.

Nairobi Securities Exchange showing recovery signs

Kenya’s capital market is showing a sign of recovery this year, with the Nairobi Securities Exchange (NSE) recording a gain in January, albeit minimal, as large stocks pay investors.

This is despite interest rates in advanced economies remaining high into 2024, a trend that has seen foreign investors focus on home markets, mainly the United States.

The latest NSE monthly Barometer shows month-on-month growth comparing January …

• NCBA in partnership with the Kenya Mortgage Refinance Company (KMRC) has rolled out a home acquisition initiative that will enable Kenyans own a home at affordable interest rates.
• The proposition will allow NCBA customers to own homes starting from 9.5 percent interest rate. 
• The mortgage loan will be used to acquire new homes or to construct for residential purposes, in major towns across the country.

NCBA in partnership with the Kenya Mortgage Refinance Company (KMRC) has  rolled out a home acquisition initiative that will enable Kenyans own a home at affordable interest rates.

The proposition will allow NCBA customers to own homes starting from 9.5 percent interest rate with up to 25 years repayment and 105 percent home financing, with a limit of a loan amount of up to Sh6 Million to be issued.

The mortgage loan will be used to acquire new homes or to construct for residential purposes, …

Kenya’s five top banks released stable Quarter 1, 2020 financial results with pessimism of their future earnings heavily affected by the Covid-19 pandemic that continues to cause havoc on the economy.

The banks that include KCB Group, Co-operative Bank, Diamond Trust Bank, Equity Group and NCBA recorded higher growth in deposits, loan book, interest income and non–funded income, but cautioned of reduced earnings in the future under the prevailing circumstances.

Deposits for the five grew by 17.7%faster than the 11% growth recorded in Q1’2019while average loan growth went up by 12.7% compared to 7.7% over the same period last year.

Analysts at Cytonn Investment attribute the growth in loans being accelerated following the repeal of the interest rate cap in November 2019, coupled with increased demand in funding as businesses demand working capital to operate in the current tough operating environment.Government securities recorded a growth of 25.9% year-on-year, which was …