Insiders tell Umoja News that KCB Group is having problems disbursing funds to clients.

Clients of the East African banking giant claim that the bank now takes over four weeks to disburse loans that they apply for, a thing that would only take a week in the past, raising eyebrows.

‘Buda, bank inakaa imekwama kama zile za Amero, pesa hakuna ya kupeana, wana struggle,’ the insider told Umoja News.

A section of employers that depend on KCB to process salaries to their staff also complained of the same.

In the past few month, KCB has delayed in processing salaries.

Pressed much on the details, the insider promised to reveal screenshots and documents to substantiate the claims above.

In mid-march, the bank announced a net profit of Sh40.8 billion. It cut dividends by a third.

KCB group chief executive Paul Russo said the rise in profit was helped by increased interest and non-interest income during the review period.

READ: Beware: KCB Bank client claims money was ‘stolen’ from his account by insiders

However, the news if the dividend cut, negatively affected the lenders stock price at the Nairobi Securities exchange.

World Economy

United States of America has witnessed the collapse of several banks due to financial to difficulties.

The banks which were all exposed to the cryptocurrency technology failed liquidity acumen.

Silvergate, Silicon Valley and Signature Banks all faced difficulties in March 2023.

The US Federal Reserve, the equivalent of Kenya’s Central Bank was forced to announce a raft of measures to stem the reverberation of collapses that might lead to bigger problems for the world economy.

One of the big banks to face difficulties was Credit Suisse.

Swiss Banking giant UBS agreed to buy Credit Suisse for $3.2 billion.

Bank solvency fears continue to batter global markets.