SBM Bank Kenya Q1 2020 Net Profit Drops to KSh 63.6 Million
SBM Bank Kenya, a subsidiary of SBM Holdings Limited-based in Mauritius, saw its net earnings drop significantly in the first three months of this year to KSh 63.6 Million. This [...]
Most Small firms Have No Cash beyond June, Warns CBK Governor
The Central Bank of Kenya (CBK) has warned that three-quarters of small and medium-sized enterprises(SMEs) have no cash to run beyond June. This dire situation implies that these SMEs will [...]StanChart 2020 Q1 Net Profit Dropped 17% to KSh 2 Billion
Net profit of Standard Chartered Bank Kenya Limited declined to KSh 2 billion in the first quarter of 2020 from KSh 2.4 billion booked in the first quarter of 2019. [...]Equity Group Q 1 Net Earnings drop 14% to KSh 5.3 Billion
During the first three months of 2020, Equity Group saw its net earnings drop by 14% to KSh 5.43 Billion against a similar reporting period last year when the lender [...]AfDB to Probe President Adesina After US Pressure
African lender AfDB has agreed to launch a probe against its President Akinwumi Adesina after mounting pressure from the US Treasury, its second-largest shareholder after Nigeria. The examination follows pressure [...]
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 [...]
