Equity Bank Earnings Up 14% to Sh 22.6 Billion
Equity Group has reported a 14% growth in profit after tax growth to Kshs 22.6 billion for the year ended 31st December 2019. The bank's loan book grew by 23% to [...]
Co-operative Bank Full Year Earnings Up 12.5% to KSh 14.3 billion
Kenya's Co-operative Bank Group has posted a net profit of KSh 14.3 billion at the close of the financial year ended 31st December, 2019. This is compared to KSh 12.7 [...]
AfricInvest Acquires Stake in IM Bank Rwanda
Private Equity firm, AfricInvest, has acquired a minority shareholding stake in IM Bank Rwanda for an undisclosed amount. The shares were paid through Africinvest Evergreen Investments, a special purpose vehicle [...]KCB Group Net Earnings Up Marginally to KSh 25.2 Billion
Kenya Commercial Bank net profit increased from KSh 24 billion in 2018 to KSh 25.2 billion at the end of the financial year ended 31st December, 2019. This impressive financial [...]Absa Group's Revenue Increase by 6%
Absa Group, which is going through a turnaround process, posted a 6 percent growth in revenue to 80 billion rands (KSh500.5 billion) in a normalized basis, in the financial year [...]
Coop Bank to Acquire 100% Stake of Jamii Bora Bank
The Central Bank of Kenya (CBK) has announced Co-operative Bank of Kenya's intentions to acquire 100% stake in Jamii Bora Bank (JBB). However, this will be subject to the following [...]Ecobank Seizes EA Cables Assets
Cable manufacturer, EA Cables, has relinquished its assets to Ecobank, after it failed to repay loans worth KSh350 million, in form of banking facilities obtained in 2011 and 2013. With [...]Stanbic’s Net Profit Rises to KSh 6.4 Billion
Stanbic Holdings Plc has posted an increase in net earnings to KSh 6.4 billion for the financial year ended 31st December 2019. It is a slight improvement from KSh6.3 billion [...]CMA , KNBS Release Islamic Finance Report
The Capital Markets Authority, in collaboration with the Kenya National Bureau of Statistics, recently released areporton Islamic/Participatory Finance. The report, which establishes findings from a survey targeting respondents from sectors [...]Majority of Kenyan Banks Now Offer Mobile Banking Survey
According to this year’s edition of the Kenya Bankers Association (KBA) Customer Service Satisfaction Survey, use of mobile banking rose to 57 per cent in 2019 from 49 per cent [...]Egyptian Lender, Banque Misr, Seeks $250 Million for East Africa Expansion
Egyptian lender, Banque Misr, has announced plans to borrow $250 million from international lenders, to help them expand into Africa. Countries targeted in the expansion include Kenya, Djibouti and Somalia. [...]Ghana to Refund Deposits Held at Failed Lenders
Ghana is set to spend KSh93.7 billion ($937 million) to refund depositors whose money is being held in failed banks and micro-credit institutions. In 2018, Ghana suffered a banking crisis [...]
