Bank customers are now required to declare names of beneficiaries of cash withdrawals above Sh1 million and justify why such large transactions cannot be done using electronic transfer channels. This is according to additional prudential guidelines issued to all banks by the Central Bank of Kenya (CBK) in a circular dated 5th January 2016. The […]
Category: news
ABC Bank gets Ksh. 554.8 M credit line from European Investment Bank- 11th December, 2015
ABC Bank and the European Investment bank have signed a Ksh. 554.8 million (Eur 5M) for onward lending to Kenyan small and medium enterprises (SMEs). The credit line from EIB is a top up of a previous Ksh. 770 million that ABC Bank received in 2012, which made ABC Bank the first local bank to […]
ABC Bank launches money remittance service to India – 20th November, 2015
ABC Bank has launched a money remittance solution to facilitate fast, secure and cost-efficient money transfers from Kenya to India. This is part of the bank’s strategy to grow its reach in to new frontiers. The new solution, dubbed iRem, enables ABC Bank customers and non-customers alike to make person-to-person, business-to-business and business-to-customer funds transfer […]
ABC Bank maintains stable credit rating- 29th October, 2015
The Global Credit Rating Company (GCR) has upheld last year’s ABC Bank upgraded rating of national scale short term A2 (KE) and long term BBB (KE) with the outlook accorded as Stable. An A2 rating, according to Fitch Ratings, is a very high credit quality rating and denotes expectations of very low default risk. It […]
Central Bank of Kenya Press Release on Imperial Bank Limited (In Receivership) – October 27, 2015
The Central Bank of Kenya (CBK) received a report on the state of financial affairs of Imperial Bank Ltd. (In Receivership) from the Kenya Deposit Insurance Corporation (KDIC). This follows KDIC’s appointment by CBK as receiver for Imperial Bank Limited (IBL) on October 13, 2015, according to the provisions of the Banking Act and of […]
Kenya Bankers Association Statement on Imperial Bank being placed under recievership- 14th October 2015
The Central Bank of Kenya (CBK) on 13th October 2015 appointed Kenya Deposit Insurance Corporation (KDIC) to assume management and control of Imperial Bank Ltd. for a period of 12 months. In a joint statement issued by the regulators, the market has been advised that CBK and Capital Markets Authority are working closely with the […]
ABC Bank reaches out to UK Diaspora with GBP Debit card- 14th August 2015
ABC Bank has become the first Kenyan bank to introduce a British Pound (GBP) Debit MasterCard. The new card is suitable for Diaspora customers in the UK. Kenyan business and leisure travelers to the UK can also deposit GBP in their ABC Bank accounts and access it while in the UK, thereby avoiding exchange rate […]
Rift Valley farmers get payment card solution from ABC Bank and EMO Society – 20 June, 2015
Farmers in the Rift Valley region can now receive payments for their produce as well as make payments for various farm inputs and services using a first-of-its kind debit card courtesy of ABC Bank and EMO Society. Emoconnect Mastercard is a bouquet of benefits; it is a prepaid bank account card, insurance card, membership card […]
ABC Bank scores a first with entrepreneurship Google+ Hangout – 26 May, 2015
In a bid to engage and connect with customers and the general online community, ABC Bank has trodden where most Kenyan corporates dread. The bank has become the first financial institution to host a Google+ Hangouts on Air, dubbed #ABCofBiz. The highly successful session is the first in a series of similar hangouts that the […]
ABC Bank in Ksh. 700 million AMECEA project funding – 26th May, 2015
ABC Bank has financed a Ksh. 700 m construction project by AMECEA (Association of Member Episcopal Conferences in Eastern Africa) in the up-market Lavington area of Nairobi. The ground breaking ceremony was held on 26th May. ABC Bank Group CEO Sridhar Natarajan and Group General Manager Peter Kinyanjui attended the ground breaking ceremony. “Through this […]
