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Deal signed to enable Kenyan Uber drivers get loans from Sidian Bank
In a shift from credit history ratings, Uber drivers will now secure loans through their driver quality ratings. Taxi hailing service, Uber, signed a partnership that will enable their drivers to get loans from Sidian Bank with the aim of empowering individual drivers to be car owners.
Our reporter Hudheifa Aden brings us the story of the deal that will see thousands of new car owners within 3 years.
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Related topics : can i get a loan from the bank / car bank loan rates
Equity's numbers: Bank defies loan rate cap to post growing profits
Equity Bank's after-tax profit for the 3rd quarter of the year has defied the effect of the control on interest rates, and gone up by 17 percent to 15 billion Shillings from 12.8 billion Shillings.
Net-interest income went up by 26.2 percent to 32.3 billion Shillings. Non-interest income on the other hand reduced by 1.2 percent to 16.6 billion Shillings. Total operating expenses went up by 13.2 percent to 27.4 billion ShillIngs. The bank's assets appreciated by 5 percent to 468 billion...
Related topics : bank loan interest rates
CBK says rise in non-performing loans is no reason for worry
The Central Bank witnessed a rise in the amount of loans reported as non-performing in the banking industry owing to tighter supervision of bank loan books. Central Bank Governor, Dr. Patrick Njoroge, said despite the surge in the reported figures of the non-performing loans, the overall impact of this development was good for the banking sector.
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Related topics : bank loan
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