At the end of September, Barclays, led with Kshs. 173 billion in assets ($2.36 billion), even with KCB at Kshs. 172 billion [KCB group is at Kshs. 184 billion – through S&L, Uganda, Tanzania, S.Sudan subsidiaries]. But by 2010, it could be a different story. Three years ago, in September 2005, the score was Barclays 106 billion (1), KCB 70 billion (3) – and at that time Equity Bank was at Kshs. 10 billion (No. 13) – but today Equity is at Kshs. 75 billion (zooming in to No. 4)
– Today is the last day for the Co-Op IPO.
– Strike out banks identified as probably going to raise capital a year ago –
Kenya Commercial, Cooperative , National Bank of Kenya cabinet approved share sale, Commercial Bank of Africa, Standard Chartered, Stanbic, Investment & Mortgages got new shareholders, Barclays, Equity, and CFC/Stanbic.
– City Finance Bank shareholders voted to reduce the banks issued share capital to Kshs. 400 million down from 1.6 billion through a cancellation/change in the par value to reflect past losses. Current capital is 331 million
Who’s the Real Marshall?: Two notorious ex-bankers and Kamlesh Pattni and Ketan Somaia who have feuded for control of Marshals Limited (Tata, and formerly Peugeot franchise holders) should prepare for another encounter as the registrar General has called for a meeting in December to iron out the ownership of the company.
Bankers cheques only: If you want to visit and see wildlife in the Masai Mara Game Reserve, the Narok County Council will insist on payment of park fees by bankers cheque only from December. Since the Council collected Kshs. 573 million (~$ 8 million) in game park fees last year, is there concern that more was lost?
Fuel Fixed: The government has today gazetted petrol price margins for major towns in the country