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- Kenya's National eyes funding in fight for market share
By Duncan Miriri NAIROBI (Reuters) - National Bank of Kenya will raise more than 10 billion shillings in a cash call next year to fund expansion and increased lending, its chief executive said. Ranked number 12 out of 43 lenders in east Africa's biggest economy, National declined from a top-three lender in 1996, as its model of focusing on government banking and personal lending was upended by newer, nimbler rivals like Equity. ...
- Uganda shilling up on inflows from exporters, charities
KAMPALA (Reuters) - The Uganda shilling strengthened on Friday due to dollar inflows from commodity exporters, charities and sell-offs by offshore investors betting on a weaker greenback. At 0932 GMT commercial banks in Kampala quoted the currency of east Africa's third-largest economy at 2,560/2,570, stronger than Thursday's close of 2,575/2,585. "The market has inflows from the usual commodity exporters and NGOs (non-governmental organisations) while there's not much activity on the demand side," said Faisal Bukenya, head of market-making at Barclays Bank. ...
- Central bank chief turns recovery skills on Somalia
 By Edmund Blair NAIROBI (Reuters) - When Washington D.C. was in financial crisis in the 1990s, Somali-born Abdusalam Omer joined a team that turned its "junk" bonds into investment grade paper. Now, as governor of the Central Bank of Somalia, he wants to transform a "failed" state. There is no escaping the scale of his new assignment. His office in Mogadishu is surrounded by the bombed out shells of former banks, symbols of Somalia's shattered economy and its broken financial system after two decades of conflict. ...
- Kenya's Diamond Trust Bank Q1 profit up 28 pct
NAIROBI (Reuters) - Kenyan lender Diamond Trust Bank posted a 28 percent year-on-year jump in first-quarter profit, helped by growth in net interest income. Pretax profit for the three months to March 31 rose to 1.73 billion shillings after the bank's net interest income climbed 22 percent to 2.48 billion shillings. Kenyan banks expect an improvement on last year's results in 2013 after a peaceful election in March boosted business confidence in east Africa's biggest economy. Diamond Trust Bank's first-quarter earnings per share increased to 5.22 shillings, against 4. ...
- Three kidnapped Red Cross workers freed in Yemen
ADEN, Yemen (Reuters) - Yemeni tribesmen released three kidnapped employees of the International Committee of the Red Cross, the humanitarian agency and a Yemeni security source said on Thursday. The men - a Swiss, a Kenyan and a Yemeni national - were kidnapped on Monday in the southern province of Abyan. They had been freed late on Wednesday and were in good health, the source said. The ICRC, which did not disclose the workers' nationalities, said they were safely back in Aden. They had been stopped in an ICRC-marked vehicle on their way back from a field trip by armed men, the ICRC said. ...
- Kenya's Co-op Bank Q1 pretax profit up 31 pct
NAIROBI (Reuters) - Kenyan lender Co-operative Bank said on Wednesday profit jumped 31 percent in the three months through March, helped by growth in customer deposits and net interest income. The bank, rooted in the east African nation's co-operative movement which brings together farmers and workers, said it made a first-quarter pretax profit of 3.23 billion shillings. "The bank reported strong capital ratios and will continue retaining some of the earnings for expansion," Chief Executive Gideon Muriuki said in a statement. Net interest income rose more than 23 percent to 4. ...
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