DOCSLIB.ORG

The Effect of Mergers and Acqiusitions on the Financial Performance Of

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
The Effect of Mergers and Acqiusitions on the Financial Performance Of THE EFFECT OF MERGERS AND ACQUSITIONS ON THE FINANCIAL PERFORMANCE OF COMMERCIAL BANKS IN KENYA BY AKOTH VIVIAN D61/72859/2014 A RESEARCH PROJECT PRESENTED IN PARTIAL FULFILMENT OF THE REQUIREMENTS FOR THE AWARD OF MASTER OF BUSINESS ADMNISTRATION (MBA) DEGREE, SCHOOL OF BUSINESS, UNIVERSITY OF NAIROBI OCTOBER 2016 i DECLARATION I hereby declare that this research project is my own work and effort and that it has not been submitted anywhere for any award. Where other sources of information have been used, they have been acknowledged. Signature………………………………… Date……………………………………… AKOTH VIVIAN D61/72859/2014 This research project has been submitted for examination with our approval as the University supervisors. Signature………………………………… Date……………………………………… MS. HELEN KINYUA LECTURER, DEPARTMENT OF FINANCE AND ACCOUNTING SCHOOL OF BUSINESS, UNIVERSITY OF NAIROBI Signature………………………………… Date……………………………………… DR. MWANGI CYRUS IRAYA SENIOR LECTURER, DEPARTMENT OF FINANCE AND ACCOUNTING SCHOOL OF BUSINESS, UNIVERSITY OF NAIROBI ii ACKNOWLEDGMENT I am grateful to God for the good health, resources and ability He has given me to successfully undertake the Masters of Business Administration. I am grateful to the entire team of the Department of Finance and Accounting, University of Nairobi for the unlimited support during the period which I undertook the Masters in Business Administration program. I wish to thank my mother, father and siblings who encouraged me, supported me and had confidence in me to successfully complete the Masters in Business Administration Program. I am eternally grateful to my supervisors, Ms. Helen Kinyua and Dr. Mwangi Cyrus Iraya for their great guidance, inspiration, constructive suggestions patience, inspiration throughout the research project. May the Lord bless you abundantly. I would also like to sincerely appreciate all those whom I interacted with during the MBA program and who contributed to my accomplishment. iii DEDICATION This project is dedicated to God, to my mother; Beatrice Atieno Osewe; my father; Prof. Ochanda Ogola; my siblings; Njega Rakwar, Jedida Rakwar, Aura Ochanda and my friend Sabina Olwaga for their support. iv ABSTRACT Mergers and acquisitions are a common method of business combinations and have a critical role in the external growth of great companies in the world. The study aimed at evaluating the relationship between financial performance of commercial banks in Kenya and mergers and acquisitions. The study compared the financial performance of the 6 commercial banks for the 7 year period before the mergers and the 7 year period after the mergers. The study was conducted as a descriptive study and a census survey was done on the commercial banks that merged between 2003 and 2008. The study used secondary data from published bank’s financial statements, annual reports of the banks and the supervision reports from the Central Bank of Kenya. Various ratios such as liquidity, profitability, efficiency and capital adequacy ratios were computed using the data. A discriminant analysis was done on the average pre-merger and post-merger ratios to assess the impact of the mergers on the financial performance of commercial banks in Kenya. It was concluded that commercial banks experienced mixed results post- merger/acquisition with some banks experiencing declined performance; others experiencing improved performance while other did not record any significant changes in the financial performance post-merger/acquisition. Overall, the study found that M&A’s did not lead to the improved financial performance of commercial banks. It was recommended that commercial banks that seek to improve their profitability should pursue mergers and acquisitions. v TABLE OF CONTENTS DECLARATION............................................................................................................... ii ACKNOWLEDGMENT ................................................................................................. iii DEDICATION.................................................................................................................. iv ABSTRACT ....................................................................................................................... v LIST OF TABLES ......................................................................................................... viii LIST OF FIGURES ......................................................................................................... ix LIST OF ABBREVIATIONS .......................................................................................... x CHAPTER ONE: INTRODUCTION ............................................................................. 1 1.1 Background to the Study ........................................................................................... 1 1.1.1 Mergers and Acquisitions ................................................................................... 2 1.1.2 Financial Performance ........................................................................................ 5 1.1.3 Mergers and Acquisitions and Financial Performance ....................................... 7 1.1.4 Commercial Banks in Kenya .............................................................................. 8 1.2 Research Problem ...................................................................................................... 9 1.3 General Research Objective .................................................................................... 12 1.4 Specific Objectives .................................................................................................. 12 1.5 Value of the Study ................................................................................................... 13 CHAPTER TWO: LITERATURE REVIEW .............................................................. 15 2.1 Introduction ............................................................................................................. 15 2.2 Theoretical Literature Review ................................................................................. 15 2.2.1 Financial Synergy Theory ................................................................................ 15 2.2.2 Theory of Corporate Control ............................................................................ 16 2.2.3 Theory of Managerial Hubris ........................................................................... 17 2.3 Determinants of Financial Performance of Commercial Banks.............................. 18 2.4 Empirical Literature Review ................................................................................... 21 2.5 Conceptual Framework ........................................................................................... 24 2.6 Summary of Literature Review ............................................................................... 25 CHAPTER THREE: RESEARCH DESIGN AND METHODOLGY ...................... 27 3.1 Introduction ............................................................................................................. 27 3.2 Research Design ...................................................................................................... 27 3.3 Population................................................................................................................ 27 vi 3.4 Data Collection ........................................................................................................ 28 3.5 Data Analysis .......................................................................................................... 28 3.5.1 Conceptual Model............................................................................................. 29 3.5.2 Analytical Model .............................................................................................. 29 3.5.3 Test of Significance .......................................................................................... 30 CHAPTER FOUR: DATA ANALYSIS, RESULTS AND DISCUSSION ................ 31 4.1 Introduction ............................................................................................................. 31 4.2 Descriptive Statistics ............................................................................................... 31 4.2.1 Liquidity Ratio .................................................................................................. 31 4.2.2 Profitability Ratio ............................................................................................. 32 4.2.3 Efficiency Ratio ................................................................................................ 33 4.2.4 Capital Adequacy Ratios ...................................................................................... 33 4.3 Correlation Analysis ................................................................................................ 34 4.4 Discriminant Analysis ............................................................................................. 35 4.7 Discussion of Research Findings ............................................................................ 36 CHAPTER FIVE: SUMMARY, CONCLUSION AND RECOMMENDATIONS .. 39 5.1 Introduction ............................................................................................................. 39 5.2 Summary of Findings .............................................................................................. 39 5.3 Conclusion ..............................................................................................................
Load more

Recommended publications
  • Half Yearly Report 2019
    Habib Bank AG Zurich 2019 Interim results with capital adequacy and liquidity disclosure requirements Habib Bank AG Zurich Table of contents Group key figures 2 Corporate Governance 3 Group financial statements Balance sheet (unaudited) 9 Income statement (unaudited) 11 Capital adequacy and liquidity disclosure requirements Extraordinary disclosure as of 30 June 2019 Interest rate risk in the banking book: Qualitative disclosure 13 requirements (IRRBBA) Table IRRBBA1: Interest rate risk: Quantitative information on the 14 structure of positions and resetting of interest rates Table IRRBB1: Interest rate risk: Quantitative information on 15 economic value of equity and net interest income Addresses 16 GROUP 1 Habib Bank AG Zurich Group key figures in CHF million 6 months ending 6 months ending 6 months ending Change in % to Balance sheet 30.06.18 31.12.18 30.06.19 31.12.18 Total assets 11'248 10'305 10'709 3.9% Equity 1'280 1'148 1'128 -1.7% Advances customers 3'612 3'546 3'449 -2.7% Deposits customers 8'949 8'422 8'166 -3.0% Change in % to Income statement 30.06.18 31.12.18 30.06.19 30.06.18 Total income 1 166.5 138.8 193.2 16.0% Operating expenses 114.5 109.9 110.7 -3.3% Operating result 43.2 -54.9 73.8 70.8% Group profit / loss 43.0 36.7 51.3 19.3% Key figures and ratios 30.06.18 31.12.18 30.06.19 Return on equity (ROE) (%)2 6.7% 6.0% 9.0% Equity ratio (%) 10.9% 11.1% 10.5% Cost / income ratio (%) 68.8% 73.5% 57.3% Capital ratio (%) 19.1% 19.5% 19.3% Liquidity coverage ratio (%) 122.1% 113.7% 123.0% Leverage ratio (%) 9.7% 9.7% 9.1%
    [Show full text]
  • KDIC Annual Report 2012
    Annual Report & Accounts th For Annualthe Year Report ended &3 0Accounts June 20 12 th For the Year ended 30 June 2012 Deposit Protection DepositFund Protection Board i Fund Board i Vision To be a best-practice deposit insurance scheme Mission The Year under Review under Year The Corporate Social Responsibility Social Corporate To promote and contribute to public confidence in the stability of the nation’s 23iii 12 12 financial system by providing a sound safety net for depositors of member institutions. Strategic Objectives • Promote an effective and efficient deposit insurance scheme • Enhance operational efficiency • Promote best practice Strategic Pillars • Strong supervision and regulation • Public confidence • Prompt problem resolutions • Public awareness • Effective coordination Corporate Values • Integrity • Professionalism • Team work • Transparency and accountability • Rule of Law Corporate Information The Year under Review under Year The Corporate Social Responsibility Social Corporate 12iv 23 Deposit Protection Fund Board CBK Pension House Harambee Avenue PO Box 45983 - 00100 Nairobi, Kenya Tel: +254 – 20 - 2861000 , 2863841 Fax: +254 – 20 - 2211122 Email : [email protected] Website: www.centralbank.go.ke Bankers Central Bank of Kenya, Nairobi Haile Selassie Avenue PO Box 60000 - 00200 Nairobi Auditors KPMG Kenya 16th Floor, Lonrho House Standard Street PO Box 40612 - 00100 Nairobi Table of Contents Statement from the Chairman of the Board..................................................................................6
    [Show full text]
  • Bank Code Finder
    No Institution City Heading Branch Name Swift Code 1 AFRICAN BANKING CORPORATION LTD NAIROBI ABCLKENAXXX 2 BANK OF AFRICA KENYA LTD MOMBASA (MOMBASA BRANCH) AFRIKENX002 3 BANK OF AFRICA KENYA LTD NAIROBI AFRIKENXXXX 4 BANK OF BARODA (KENYA) LTD NAIROBI BARBKENAXXX 5 BANK OF INDIA NAIROBI BKIDKENAXXX 6 BARCLAYS BANK OF KENYA, LTD. ELDORET (ELDORET BRANCH) BARCKENXELD 7 BARCLAYS BANK OF KENYA, LTD. MOMBASA (DIGO ROAD MOMBASA) BARCKENXMDR 8 BARCLAYS BANK OF KENYA, LTD. MOMBASA (NKRUMAH ROAD BRANCH) BARCKENXMNR 9 BARCLAYS BANK OF KENYA, LTD. NAIROBI (BACK OFFICE PROCESSING CENTRE, BANK HOUSE) BARCKENXOCB 10 BARCLAYS BANK OF KENYA, LTD. NAIROBI (BARCLAYTRUST) BARCKENXBIS 11 BARCLAYS BANK OF KENYA, LTD. NAIROBI (CARD CENTRE NAIROBI) BARCKENXNCC 12 BARCLAYS BANK OF KENYA, LTD. NAIROBI (DEALERS DEPARTMENT H/O) BARCKENXDLR 13 BARCLAYS BANK OF KENYA, LTD. NAIROBI (NAIROBI DISTRIBUTION CENTRE) BARCKENXNDC 14 BARCLAYS BANK OF KENYA, LTD. NAIROBI (PAYMENTS AND INTERNATIONAL SERVICES) BARCKENXPIS 15 BARCLAYS BANK OF KENYA, LTD. NAIROBI (PLAZA BUSINESS CENTRE) BARCKENXNPB 16 BARCLAYS BANK OF KENYA, LTD. NAIROBI (TRADE PROCESSING CENTRE) BARCKENXTPC 17 BARCLAYS BANK OF KENYA, LTD. NAIROBI (VOUCHER PROCESSING CENTRE) BARCKENXVPC 18 BARCLAYS BANK OF KENYA, LTD. NAIROBI BARCKENXXXX 19 CENTRAL BANK OF KENYA NAIROBI (BANKING DIVISION) CBKEKENXBKG 20 CENTRAL BANK OF KENYA NAIROBI (CURRENCY DIVISION) CBKEKENXCNY 21 CENTRAL BANK OF KENYA NAIROBI (NATIONAL DEBT DIVISION) CBKEKENXNDO 22 CENTRAL BANK OF KENYA NAIROBI CBKEKENXXXX 23 CFC STANBIC BANK LIMITED NAIROBI (STRUCTURED PAYMENTS) SBICKENXSSP 24 CFC STANBIC BANK LIMITED NAIROBI SBICKENXXXX 25 CHARTERHOUSE BANK LIMITED NAIROBI CHBLKENXXXX 26 CHASE BANK (KENYA) LIMITED NAIROBI CKENKENAXXX 27 CITIBANK N.A. NAIROBI NAIROBI (TRADE SERVICES DEPARTMENT) CITIKENATRD 28 CITIBANK N.A.
    [Show full text]
  • Commercial Banks Directory As at 30Th April 2006
    DIRECTORY OF COMMERCIAL BANKS AND MORTGAGE FINANCE COMPANIES A: COMMERCIAL BANKS African Banking Corporation Ltd. Postal Address: P.O Box 46452-00100, Nairobi Telephone: +254-20- 4263000, 2223922, 22251540/1, 217856/7/8. Fax: +254-20-2222437 Email: [email protected] Website: http://www.abcthebank.com Physical Address: ABC Bank House, Mezzanine Floor, Koinange Street. Date Licensed: 5/1/1984 Peer Group: Small Branches: 10 Bank of Africa Kenya Ltd. Postal Address: P. O. Box 69562-00400 Nairobi Telephone: +254-20- 3275000, 2211175, 3275200 Fax: +254-20-2211477 Email: [email protected] Website: www.boakenya.com Physical Address: Re-Insurance Plaza, Ground Floor, Taifa Rd. Date Licenced: 1980 Peer Group: Medium Branches: 18 Bank of Baroda (K) Ltd. Postal Address: P. O Box 30033 – 00100 Nairobi Telephone: +254-20-2248402/12, 2226416, 2220575, 2227869 Fax: +254-20-316070 Email: [email protected] Website: www.bankofbarodakenya.com Physical Address: Baroda House, Koinange Street Date Licenced: 7/1/1953 Peer Group: Medium Branches: 11 Bank of India Postal Address: P. O. Box 30246 - 00100 Nairobi Telephone: +254-20-2221414 /5 /6 /7, 0734636737, 0720306707 Fax: +254-20-2221417 Email: [email protected] Website: www.bankofindia.com Physical Address: Bank of India Building, Kenyatta Avenue. Date Licenced: 6/5/1953 Peer Group: Medium Branches: 5 1 Barclays Bank of Kenya Ltd. Postal Address: P. O. Box 30120 – 00100, Nairobi Telephone: +254-20- 3267000, 313365/9, 2241264-9, 313405, Fax: +254-20-2213915 Email: [email protected] Website: www.barclayskenya.co.ke Physical Address: Barclays Plaza, Loita Street. Date Licenced: 6/5/1953 Peer Group: Large Branches: 103 , Sales Centers - 12 CFC Stanbic Bank Ltd.
    [Show full text]
  • Basel Iii Disclosure 2019
    Habib Bank AG Zurich Capital adequacy and liquidity disclosure requirements Disclosure as of 31 December 2019 Purely for ease of reading, the masculine form used in this document is intended to refer to both genders. This concolidated regulatory disclosure report is published in English only. Due to rounding, the numbers presented in this report may not add up precisely to the totals provided and percentages may not precisely reflect the absolute figures. Habib Bank AG Zurich Capital adequacy and liquidity disclosure requirements (consolidated) Habib Bank AG Zurich is providing this information as closure requirements set out in FINMA Circular 2016/1 of 31 December 2019 in accordance with the provisions "Disclosure - banks". of the Capital Adequacy Ordinance (CAO) and the dis- 1. Scope of consolidation Scope of consolidation for capital adequacy purposes The scope of consolidation for capital adequacy pur- poses consist of the following companies (hereafter re- ferred to as "the Group"): • Habib Bank AG Zurich (hereafter referred to as "the Bank") • Habib Canadian Bank, Canada (100% ownership) • HBZ Bank Ltd., South Africa (100% ownership) • Habib Metropolitan Bank Ltd., Pakistan (51% ownership) • Habib Bank Zurich (Hong Kong) Ltd., Hong Kong (51% ownership) • Habib Bank Zurich Plc, United Kingdom (100% ownership) • Habib Metropolitan Financial Services Ltd., Pakistan (51% ownership) • Habib Metropolitan Modaraba Management Company Ltd., Pakistan (51% ownership) • First Habib Modaraba Ltd., Pakistan (5% ownership) • Habib Metro Modaraba, Pakistan (36% ownership) Scope and method of consolidation according to ticular risk class, defines who manages risk and who FINMA Circular 2015/1 "Accounting - Banks" performs independent risk control. The Group's method of capital consolidation follows the Risk organisation purchase method.
    [Show full text]
  • Effect of Electronic Banking on the Operating Costs of Commercial Banks in Kenya
    EFFECT OF ELECTRONIC BANKING ON THE OPERATING COSTS OF COMMERCIAL BANKS IN KENYA CATHERINE WANJERI MACHARIA A RESEARCH PROJECT SUBMITTED IN PARTIAL FULFILLMENT OF THE REQUIREMENTS FOR THE AWARD OF THE DEGREE OF MASTERS OF SCIENCE IN FINANCE, SCHOOL OF BUSINESS, UNIVERSITY OF NAIROBI 2019 DECLARATION This research project is my original work and has not been presented for examination in any other university. Signature……………………………………. Date………………………………… This Research project has been submitted for examination with my approval as university supervisor Signature…………………………………………. Date………………………………… Dr. Mwangi Cyrus Iraya Chairman, Department of Finance and Accounting School of Business ii ACKNOWLEDGMENT I thank the Almighty God for providing the resources required for my project and seeing me through the period. I appreciate the encouragement and moral support given to me by my husband and two children. Many thanks to my Supervisor, Dr. Mwangi Cyrus Iraya for the guidance offered. iii DEDICATION This research is dedicated to my parents for their support and constant push throughout my journey in pursuit of knowledge. They have been a pillar and this would not have been possible without them. iv THE TABLE OF CONTENTS DECLARATION............................................................................................................... ii ACKNOWLEDGMENT ................................................................................................. iii DEDICATION.................................................................................................................
    [Show full text]
  • Half Yearly Report 2020
    Habib Bank AG Zurich Interim report 2020 Habib Bank AG Zurich Table of contents Group key figures 2 Letter to shareholders 3 Corporate Governance 4 Management report 11 Consolidated interim financial statements of the Group Balance sheet 15 Income statement 16 Notes to the consolidated financial statements 18 Addresses 19 GROUP 1 Habib Bank AG Zurich Group key figures in CHF million Change in % to Balance sheet 30.06.19 31.12.19 30.06.20 31.12.19 Total assets 10'709 11'163 11'121 -0.4% Equity 1'128 1'196 1'215 1.5% Advances customers 3'449 3'545 3'360 -5.2% Customers deposits 8'166 8'584 8'395 -2.2% Changes in % to Income statement First half 2019 Second half 2019 First half 2020 First half 2019 Total income 1 193.2 214.5 296.3 53.4% Operating expenses -110.7 -116.3 -109.9 -0.7% Operating result 73.8 92.5 169.0 129.2% Group profit 51.3 40.2 36.5 -28.8% Change in % to Key figures and ratios 30.06.19 31.12.19 30.06.20 31.12.19 Number of offices 391 432 439 1.6% Number of employees 5'607 5'698 5'945 4.3% Return on equity (ROE) 2 9.0% 7.8% 6.1% Equity ratio 10.5% 10.7% 10.9% Cost / income ratio 57.3% 55.7% 37.1% Capital ratio 19.3% 19.7% 18.5% Liquidity coverage ratio 123.0% 122.0% 124.5% Leverage ratio 9.1% 9.4% 10.3% 1 Including "Gross result from interest operations", "Result from comission business and services", "Result from trading activities and the fair value option" and "Other result from ordinary activities" 2 Annualised Group profit as percentage of equity of average at year end Customers deposits, in CHF million Equity, in CHF million Group profit, in CHF million 60 10000 1500 51.3 8'584 8'395 8'166 1'196 1'215 1'128 50 8000 1200 40.2 40 36.5 6000 900 30 4000 600 20 2000 300 10 0 0 0 30.06.19 31.12.19 30.06.20 30.06.19 31.12.19 30.06.20 1st half 19 2nd half 19 1st half 20 Purely for ease of reading, the masculine form used in this document is intended to refer to both genders.
    [Show full text]
  • THE KENYA GAZETTE Published by Authority of the Republic of Kenya (Registered As a Newspaper at the G.P.O.) Vol
    NATIONAL COUNCIL FOR LAW REPORTING LIBRARY THE KENYA GAZETTE Published by Authority of the Republic of Kenya (Registered as a Newspaper at the G.P.O.) Vol. CXXII —No. 78 NAIROBI, 30th April, 2020 Price Sh. 60 CONTENTS GAZETTE NOTICES PAGE PAGE The Land Registration Act—Issue of New Title Deeds 1810,1818 66—The Registered Land (Amendment) Rules, 2020.... 747 The Land Act—Construction of Thwake Multipurpose 67—The Government Lands (Fees) (Amendment) Dam 1810 Rules, 2020 748 The Legal Education Act—Passing of Examinations and 68—The Land Titles (Registration Fees) (Amendment) Pupilage 1811 Rules, 2020 ' 748 The Capital Markets Act 1811-1815 69—The Public APrneurement and Asset Disposal County Governments Notices 1816-1817 Regulations, 2020 749 The Crops Act—Proposed Grant of Tea Licences 1817 70 — The Public Order (State Curfew) (Extension) The Co-operatives Societies Act—Appointment of Order, 2020 869 Liquidator 1817 75—The Kenya Defence Forces (South Africa Visiting Disposal of Uncollected Goods 1818 Forces) Order, 2020 877 Change of Names 1818 SUPPLEMENT No. 55 SUPPLEMENT Nos. 44 and 45 Senate Bills, 2020 National Assembly Bills , 2020 PAGE PAGE The Pandemic Response and Management Bill, 2020 71 The Supplementary Appropriation Bill, 2020 211 The County Allocation of Revenue Bill, 2020 89 SUPPLEMENT Nos. 56 and 57 SUPPLEMENT Nos. 52,53,54,55,56 and 59 Acts, 2020 Legislative Supplements, 2020 PAGE LEGAL NOTICE No. PAGE The Tax Laws (Amendment) Act, 2020 13 65 — The Registration of Titles (Fees) (Amendment) Rules, 2020 747 The Division of Revenue Act, 2020 31 [1809 1810 THE KENYA GAZETTE 30th April, 2020 CORRIGENDA GAZETTE NOTICE NO.
    [Show full text]
  • Automated Clearing House Participants Bank / Branches Report
    Automated Clearing House Participants Bank / Branches Report 21/06/2017 Bank: 01 Kenya Commercial Bank Limited (Clearing centre: 01) Branch code Branch name 091 Eastleigh 092 KCB CPC 094 Head Office 095 Wote 096 Head Office Finance 100 Moi Avenue Nairobi 101 Kipande House 102 Treasury Sq Mombasa 103 Nakuru 104 Kicc 105 Kisumu 106 Kericho 107 Tom Mboya 108 Thika 109 Eldoret 110 Kakamega 111 Kilindini Mombasa 112 Nyeri 113 Industrial Area Nairobi 114 River Road 115 Muranga 116 Embu 117 Kangema 119 Kiambu 120 Karatina 121 Siaya 122 Nyahururu 123 Meru 124 Mumias 125 Nanyuki 127 Moyale 129 Kikuyu 130 Tala 131 Kajiado 133 KCB Custody services 134 Matuu 135 Kitui 136 Mvita 137 Jogoo Rd Nairobi 139 Card Centre Page 1 of 42 Bank / Branches Report 21/06/2017 140 Marsabit 141 Sarit Centre 142 Loitokitok 143 Nandi Hills 144 Lodwar 145 Un Gigiri 146 Hola 147 Ruiru 148 Mwingi 149 Kitale 150 Mandera 151 Kapenguria 152 Kabarnet 153 Wajir 154 Maralal 155 Limuru 157 Ukunda 158 Iten 159 Gilgil 161 Ongata Rongai 162 Kitengela 163 Eldama Ravine 164 Kibwezi 166 Kapsabet 167 University Way 168 KCB Eldoret West 169 Garissa 173 Lamu 174 Kilifi 175 Milimani 176 Nyamira 177 Mukuruweini 180 Village Market 181 Bomet 183 Mbale 184 Narok 185 Othaya 186 Voi 188 Webuye 189 Sotik 190 Naivasha 191 Kisii 192 Migori 193 Githunguri Page 2 of 42 Bank / Branches Report 21/06/2017 194 Machakos 195 Kerugoya 196 Chuka 197 Bungoma 198 Wundanyi 199 Malindi 201 Capital Hill 202 Karen 203 Lokichogio 204 Gateway Msa Road 205 Buruburu 206 Chogoria 207 Kangare 208 Kianyaga 209 Nkubu 210
    [Show full text]
  • Bank Supervision Annual Report 2019 1 Table of Contents
    CENTRAL BANK OF KENYA BANK SUPERVISION ANNUAL REPORT 2019 1 TABLE OF CONTENTS VISION STATEMENT VII THE BANK’S MISSION VII MISSION OF BANK SUPERVISION DEPARTMENT VII THE BANK’S CORE VALUES VII GOVERNOR’S MESSAGE IX FOREWORD BY DIRECTOR, BANK SUPERVISION X EXECUTIVE SUMMARY XII CHAPTER ONE STRUCTURE OF THE BANKING SECTOR 1.1 The Banking Sector 2 1.2 Ownership and Asset Base of Commercial Banks 4 1.3 Distribution of Commercial Banks Branches 5 1.4 Commercial Banks Market Share Analysis 5 1.5 Automated Teller Machines (ATMs) 7 1.6 Asset Base of Microfinance Banks 7 1.7 Microfinance Banks Market Share Analysis 9 1.8 Distribution of Foreign Exchange Bureaus 11 CHAPTER TWO DEVELOPMENTS IN THE BANKING SECTOR 2.1 Introduction 13 2.2 Banking Sector Charter 13 2.3 Demonetization 13 2.4 Legal and Regulatory Framework 13 2.5 Consolidations, Mergers and Acquisitions, New Entrants 13 2.6 Medium, Small and Micro-Enterprises (MSME) Support 14 2.7 Developments in Information and Communication Technology 14 2.8 Mobile Phone Financial Services 22 2.9 New Products 23 2.10 Operations of Representative Offices of Authorized Foreign Financial Institutions 23 2.11 Surveys 2019 24 2.12 Innovative MSME Products by Banks 27 2.13 Employment Trend in the Banking Sector 27 2.14 Future Outlook 28 CENTRAL BANK OF KENYA 2 BANK SUPERVISION ANNUAL REPORT 2019 TABLE OF CONTENTS CHAPTER THREE MACROECONOMIC CONDITIONS AND BANKING SECTOR PERFORMANCE 3.1 Global Economic Conditions 30 3.2 Regional Economy 31 3.3 Domestic Economy 31 3.4 Inflation 33 3.5 Exchange Rates 33 3.6 Interest
    [Show full text]
  • Banking's Most Socially Active Professionals
    Africa’s Most Socially Active Banking Professionals – September 2020 Position Company Name LinkedIN URL Location Size No. Employees on LinkedIn No. Employees Shared (Last 30 Days) % Shared (Last 30 Days) 1 Absa Bank Moçambique https://www.linkedin.com/company/30166965 Mozambique 1001-5000 276 56 20.29% 2 Société Générale African Business Serviceshttps://www.linkedin.com/company/13673494 Morocco 201-500 307 52 16.94% 3 Standard Bank Angola https://www.linkedin.com/company/5166455 Angola 501-1000 449 69 15.37% 4 Société Générale Côte d'Ivoire https://www.linkedin.com/company/11771636 Cote D’Ivoire 1001-5000 362 51 14.09% 5 BANCO MILLENNIUM ATLANTICO https://www.linkedin.com/company/5063383 Angola 1001-5000 766 101 13.19% 6 AfrAsia Bank Limited https://www.linkedin.com/company/460583 Mauritius 201-500 342 41 11.99% 7 Bank One Limited https://www.linkedin.com/company/1558035 Mauritius 201-500 276 33 11.96% 8 ProvidusBank https://www.linkedin.com/company/10990815 Nigeria 201-500 279 30 10.75% 9 Banco Económico https://www.linkedin.com/company/874337 Angola 501-1000 610 64 10.49% 10 Equity Bank Congo https://www.linkedin.com/company/16254647 Democratic Republic of the501-1000 Congo 303 31 10.23% 11 FNB Moçambique https://www.linkedin.com/company/427748 South Africa 201-500 248 23 9.27% 12 Coris Bank International https://www.linkedin.com/company/8134529 Burkina Faso 501-1000 535 48 8.97% 13 BNI - Banco de Negocios Internacional,https://www.linkedin.com/company/425604 SA Angola 501-1000 391 35 8.95% 14 Banco Único S.A https://www.linkedin.com/company/66198333
    [Show full text]
  • An Analysis of the Usefulness of Annual Financial Statements to Credit Risk Analysts in Kenyan Commercial Banks
    An Analysis Of The Usefulness Of Annual Financial Statements To Credit Risk Analysts In Kenyan Commercial Banks / Adam M. Boru Supervisor Luther Otieno A management research project submitted in partial fulfilment of the requirements of the degree of Masters in Business Administration of the University of Nairobi. August 2003 DECLARATION This research is my original work and has not been presented for a degree in any other University. Signed Date " 7 — I I ' X O O ^ Adam Mohamed Boru D61/P/8801/98 Candidate 0WV£!?srrv op MAIROb. i n w p o v A e p rp I I& R a Q' This research has been submitted for examination with my approval as the university supervisor. Signed Date 7 - 1 ^ Mr. Luther Otieno Odhiambo Lecturer Department of Accounting Faculty of Commerce University of Nairobi (i) acknowledgements May I first and foremost thank my supervisor Mr. Luther Otieno Odhiambo for his confidence-inspiring and enthusiastic support. May I also thank my fellow MBA students for their support throughout the course. Special thanks to Matu Mugo, Linda Kamau, J. Oltetia, John Musau, Dan Obiero, Joyce Mutanu, Chris Otieno and T.K. Kimutai. Dulacha B. Galgalo, a PHD student at the University of Western Australia, Perth, also deserves a special mention for his encouragement and untiring support. Last but not least, to all who supported me in one way or the other, I am most grateful. UNIVERSITY of MAIRUu. UOWER KABETE Li&^Arv (ii) DEDICATION This project is dedicated to my parents who leant the hard way that lack of formal education in today’s world is a handicap and ensured that I avoided the pitfall.
    [Show full text]