NCBA Bank acquires Unga Group’s $6.6-million loan portfolio from Absa Bank
The acquisition underscores NCBA’s commitment to strengthening its domestic operations while reinforcing its role as a leading financial institution in East Africa.
Absa Bank
Absa Bank appoints South African executive Charles Russon as interim CEO
Absa Bank has appointed South African executive Charles Russon as interim CEO, ensuring stability as the search for a permanent successor begins following the retirement of Arrie Rautenbach
Absa Bank, linked to Kenyan tycoon Baloobhai Patel, posts $42 million profit in Q1 2024
Customer deposits also climbed 14.47 percent to Ksh359.46 billion ($2.74 billion), reflecting the bank’s customer-centric approach.
Kenyan billionaire Baloobhai Patel buys big, now owns more than 1 percent of Absa Bank
Patel’s latest acquisition reflects a significant year-on-year increase in his Absa holdings. In December 2022, he held 47.57 million shares (0.88-percent stake).
Ugandan tycoon Patrick Bitature and Absa Bank clash over $13.6-million loan
The growing number of legal disputes surrounding Bitature has raised concerns about his financial standing.
Mutumwa Mawere may lose his R2-million luxury apartment in South Africa
A failed loan repayment to Absa Bank has put the Zimbabwean tycoon into a financial bind.