THE STANDARD By
The Standard |
December 18th 2020 at 01:00:00 GMT +0300
Central Bank of Kenya (CBK) holds and manages foreign exchange reserves, is charged with the responsiblity for formulating monetary policy to achieve and maintain price stability Feb 6, 2020. [Jonah Onyango, Standard]
A Central Bank of Kenya (CBK) report has exposed how naughty banks engaged in insider lending or breached the capital adequacy ratios.
In its 2019 Banking Annual Supervision Report, CBK said nine banks did not have adequate capital buffers since most of them were running on empty while another four banks were listed for over-indulging in insider lending.
It was because of such malpractices that Imperial Bank, Dubai Bank and Chase Bank were sunk. Chase Bank has since been acquired by SBM Bank, previously known as Fidelity Commercial Bank Limited.
Share of bank accounts with more than Sh100,000 shrinks
Wednesday December 16 2020
A Nairobi market trader counts money after the day’s sales. CBK data shows the share of the high quality accounts dipped to 2.49 per cent in 2019. PHOTO | FILE | NATION MEDIA GROUP
By PATRICK ALUSHULA
Summary
CBK data shows the share of the high quality accounts dipped from 2.62 per cent in 2018 and 3.94 per cent in 2014.
The fall came despite the number of bank accounts holding more than Sh100,000 having increased by 105,639 last year to 1.55 million.
The share of bank accounts holding more than Sh100,000 dropped to 2.49 per cent last year, reflecting the cash flow problems in an economy plagued by job cuts and Kenya’s growing income inequality.
THE STANDARD By
Dominic Omondi |
December 17th 2020 at 00:00:00 GMT +0300
CBK boss Patrick Njoroge during a recent interview. The report failed to reveal the identity of ‘ailing’ banks. [David Gichuru, Standard]
Apex bank report says nine lenders lack adequate capital buffers and continued to run empty.
A new Central Bank of Kenya (CBK) report has exposed naughty banks that engaged in insider lending or breached the capital adequacy ratios.
Giving its review of last year’s bank performance, CBK singled out nine banks that did not have adequate capital buffers, as most of them continued to run empty.
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Another four banks were listed for over-indulging in insider lending, a problem that sunk Imperial Bank, Chase Bank and Dubai Bank. Chase Bank has since been acquired by SBM Bank.
Leaked: Nairobi businessman appeals to DPP Haji to fast-track Parklands land file implicating top Paramount Bank officials
Businessman Zaverchand Ramji Shah has appealed to DPP Nordin Haji to hasten the probe into the grabbing off of his land in parklands.
This is after the DCI lands fraud unit wrote to Hajis office recommending the arrest and prosecution of Paramount Bank officials led by Director Ayaz Merali.
Other directors are Anwarali Merali, Noorez Padamshi, Mohammed Mujtaba and Mercy Kamau.
In a clear case of conflict of interest, Mercy Kamau is the lawyer who signed the transfer documents on behalf of Paramount Bank despite being a director.