NCBA launches suite of trustee services to safeguard collective solutions




NCBA Bank has today launched a suite of trustee services solutions under the theme “Safeguarding Collective Investments”. This comes after the bank obtained a Real Estate Investment Trust (REIT) trustee license from the Capital Markets Authority (CMA) in March 2024.

The trustees are appointed for various purposes, such as managing assets during bankruptcy, overseeing retirement plans or pensions, and handling assets on behalf of others.

(TOP: NCBA Group MD John Gachora at a past event).

The Trustee Services Solutions include Real Estate Investment Trusts (REITs) – Development REITs (D-REITs) and Investment REITs (I-REITs) – and Unit Trust Funds such as Money Market Funds, Bond Funds, Equity Funds, and Special Funds.

“At NCBA, we are dedicated to providing comprehensive trustee services tailored to collective investment schemes which ensure secure and efficient management of assets. Our Trustee Services Solutions are designed to offer secure and effective management of collective investment schemes, reflecting our dedication to safeguarding investments and fostering sustainable growth,” said NCBA Group MD John Gachora.

Currently, there are four existing REITs in Kenya: ILAM Fahari Income REIT, Acorn Development REIT, Acorn Income REIT, and Lapfund Imara Income REIT.

NCBA Group is a full-service banking group providing a broad range of financial products and services to corporate, institutional, SME and consumer banking customers. NCBA Group operates a network of more than 100 branches in five countries, including Kenya, Uganda, Tanzania, Rwanda, and Ivory Coast. Serving over 60 million customers, the NCBA Group is the largest banking group in Africa by customer numbers. NCBA Bank Kenya is Kenya’s third-largest bank by assets. The Bank is set to play a key role in supporting Africa’s economic ambitions. The Bank is a market leader in Corporate Banking, Asset Finance and Digital Banking.

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