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NCBA Introduces New Services to Protect Group Investments

By Oluchukwu Ikemefuna

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NCBA Bank, a Kenyan commercial bank, has founded a suite of trustee services solutions themed “Safeguarding Collective Investments”. This development comes after the bank acquired a Real Estate Investment Trust (REIT) trustee license from the Capital Markets Authority (CMA) in March 2024.

NCBA Trustee Services: About NCBA 

NCBA was launched in December 2016. It was born from the merging of NIC and CBA Bank. NIC Bank, an institution with a rich history of retail banking; and CBA Bank, a forerunner of innovation in the banking space. 

NCBA Trustee Services

The NCBA harnessed the power of both NIC and CBA to create a bank that brings together the best of both worlds. This is obvious from advanced mobile banking to good old-fashioned relationship management. Also, from scalable business banking to financial services that grow as your business does. Finally, from best-in-class choice of products to investment solutions tailored to your specific needs.

Purpose of The NCBA Trustee Services

The trustees are appointed for various purposes. The purposes range from managing assets during bankruptcy, to overseeing retirement plans or pensions. Also, one major purpose of the trustee is handling assets on behalf of others. 

Also Read: Best Free USSD Loan Codes in Kenya

The Trustee Services Solutions consist of Real Estate Investment Trusts (REITs),  Development REITs (D-REITs) and Investment REITs (I-REITs). It also includes Unit Trust Funds such as Money Market Funds, Bond Funds, and Special Funds.

Conclusion

The bank is committed to ensuring the services provided by the trustee are tailored to the investment schemes. This ensures efficient management of assets. 

NCBA Group Managing Director, Mr. John Gachora, said, “At NCBA, we are dedicated to providing comprehensive trustee services. The services are tailored to collective investment schemes that ensure secure and efficient management of assets.”

“Our Trustee Services Solutions are designed to offer secure and effective management of collective investment schemes. It reflects our dedication to safeguarding investments and fostering sustainable growth.” 

Note that there are four existing REITs in Kenya. The ILAM Fahari Income REIT and Acorn Development REIT are the most known. Then there is the Acorn Income REIT and Lapfund Imara Income REIT. 

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Abdullahi Kafayat
Abdullahi Kafayat

Abdullahi Kafayat is an enthusiastic writer interested in the tech world. She's a graduate of Obafemi Awolowo University and has a BSc in Chemistry. You can reach her at Kafayatabdullahi17@gmail.com.

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