IM Bank Declares Dividends as Profit Jumps to KSh 9.9 Bn
IM Group posted KSh 9.95 billion in net profits in the 9 months to September, a 21.3% uptick from KSh 8.2 billion recorded in the same period in 2023. “The [...]
Kenya Bankers Association Report Unearths Gaps Banks Must Seal to Create Sustainable Future
The Kenyan banking industry still has homework to do in improving transparency, addressing greenwashing, facilitating capital mobilisation and empowering market participants to identify and invest in sustainable assets. “As highlighted [...]Stanbic Reports Ksh 10.1bn Profit After Tax in Q3
Stanbic Bank has announced a Ksh 10.1 billion profit after tax for the nine-month period ended September 30, 2024. Operating costs decreased by 5% on harnessing previous investments aimed at [...]Angola Maintains 19.5% Interest Rate as Inflation Pressures Persist
Angola's central bank maintained its benchmark interest rate at 19.5% for a third time on Tuesday, citing a potential slowdown in headline inflation. “However, its level remains high, requiring the [...]Absa Kenya Profits Up 20% KSh 14.8Bn in Q3
Absa Group has posted a 19.8% increase in net profit to KSh 14.8 billion in the 9 months to September from KSh 12.3 billion recorded in the same period in [...]Co-operative Bank Profits Increase by 4.4% to KSh 19.2 bn
The Co-operative Bank posted KSh 19.21 billion in the 9 months to September, a 4.4% uptick from KSh 18.4 billion recorded in the same period a year earlier. Total assets [...]Celebrating Nuru Mugambi: A Champion for Women in Finance Across Africa
I first met Nuru Mugambi in 2017 when she headed the Public Policy and communications at the Kenya Bankers Association (KBA). From that initial encounter, we quickly established a professional [...]
Treasury Bill Rates Decline Further to 2023 Levels
Interest rates on Treasury bills have declined to levels last seen in August 2023, all below 14%, amid the Central Bank of Kenya’s resolve to begin the easing cycle in [...]Central Bank Cautions Against False Information on Banking Sector
The Central Bank of Kenya (CBK) has cautioned against erroneous information by malicious actors on the stability of the country's banking system. CBK has not issued any press release, or [...]
President Ruto Nominates CBK Insider Gerald Nyaoma as Second Deputy Governor
President William Ruto has nominated Gerald Nyaoma Arita to the vacant Deputy Governor position of Central Bank of Kenya. If approved by Parliament, Nyaoma will take up the vacant second [...]Female-Led Firms Default Less on Loans in Sub-Saharan Africa- EIB Report
Banks in sub-Saharan Africa are increasing their focus on gender balance in lending with majority of the institutions reporting better loan performance among female-led firms. “Banks continue to report better [...]Equity Group Q3 Profits Up 13% to KSh 40.9 bn
Equity Group's net profit for the 3rd quarter grew 13.1% to KSh 40.9 billion primarily driven by an increase in operating income boosted by growth in the Tanzania and Rwanda [...]
