Absa Bank Kenya Reports 13% Growth in Q1 2020 Normalised Profit after tax to Kshs 2.3 billion
Absa Bank Kenya has reported a normalized profit after tax of Ksh2.3 billion for the first three months of 2020, a 13 per cent growth driven by an 8% growth [...]
IMF Urges Banks Worldwide to Halt Dividend Payouts
The International Monetary Fund(IMF) is pushing banks around the globe to withhold payment of dividends to shareholders and instead use the cash to build their capital and liquidity positions. In [...]
Equity Group Withdraws KSh. 9.5 Billion Dividend Payout
Equity Group Holdings has resolved to withdraw Ksh9.5 billion dividend payment for the year ended 31 December 2019. The withdrawal of the dividend payout follows the Board’s assessment of risk, [...]Financial Strategies for Households During Uncertain Times
Covid19 has rendered households with less disposable income due to loss of jobs, salary cuts, and unpaid leave. This has led to financial distress with many unable to meet mortgage [...]Daily Mobile Money Transactions Grow by 9.4%
The daily average number of mobile money transactions grew after the Central Bank of Kenya and mobile money service providers introduced transaction fees waivers and increased the daily transfer limits.Data [...]
Equity Reschedules Customer Loans
Equity Bank has opted to support its customers by restructuring their loans amounting to KSh92 billion for up to three years. The Group reiterated that the restructuring is available to [...]KCB to Pay KSh3.2B for Imperial Bank Assets and Liabilities
KCB Group has completed the acquisition of some assets and liabilities of Imperial Bank (Kenya) limited valued at KSh3.2 billion. Central Bank of Kenya approved the deal on May 4 [...]Kenyan Banks Restructure Personal Loans Worth KSh 102.5 Billion Central Bank
Available Central Bank of Kenya (CBK) figures show that banks extended the repayment period of personal loans to customers, worth KSh 105.2 Billion at the end of April 2020. This [...]South Africa Cuts Key Lending Rate to 3.75%
South African Reserve Bank has cut its key lending rate by 50 basis points from 4.25% to 3.75% the lowest on record. The Bank paints a grim picture of the [...]NCBA Net Earnings Increase to KSh 1.6 Billion
NCBA Group's net earnings in the three months to March 2020 reached KSh 1.6 billion from KSh1.3 billion posted in the first three months of 2019. The portfolio of non-performing [...]Co-op Bank Group Net Earnings Flat at KSh 3.6 Billion
Co-operative Bank Group has posted KSh 3.59 billion net profit in the first three months of 2020. This is compared to KSh 3.6 billion at the end of March 2019. [...]KCB Q1 Earnings Rise 8% to KSh6.3 Billion
Kenya's most profitable lender and one with the largest balance sheet, KCB Group's net earnings rose 8% to KSh 6.3 Billion at the end of Q1, 2020. This is compared [...]
