How Financial Institutions Can Help Mitigate Climate Risks
Top executives from banks and other financial institutions gathered at Capital Club East Africa in Nairobi this week to discuss the way forward for climate finance, at an exclusive event [...]
Kenya to Pump US$ 100Mn into AfDB, Afreximbank and Trade Development Bank
Kenya will invest US$ 100 million in the African Development Bank (AfDB), Afreximbank, and Trade Development Bank to enable it increase its shareholding in the institutions in the next three [...]Rwanda Cuts Key Interest Rate by 50 Basis Points to 7.0%
Rwanda’s Central Bank has cut its key interest rateby 50 basis points to 7.0%, after maintaining it unchanged for two consecutive meetings at 7.75%. Risks to the inflation outlook include [...]Absa Bank Kenya Q1 Profit Rises to KSh 5.9 Billion
Absa Bank Kenya’s profit after tax for the first quarter of this year has grown 34 per cent to KSh 5.9 billion from KSh 4.5 billion during the same period [...]KCB Raises Base Lending Rate to 15.6%
Both new and existing loans issued by KCB will be affected by the hiked interest rates announced by the institution on May 27th. We wish to advise you that the [...]Standard Chartered Kenya Q1 Profit up 39.5% to KSh 5.62bn
Standard Chartered Bank Kenya recorded a 39.5% increase in profit to KSh 5.62bn for the first quarter of 2024, up from KSh 4.03 bn in the same period in 2023. [...]Equity Group Hosts Capitol Hill Roundtable to Boost Kenya-US Private Sector Partnerships
On the sidelines of the historic U.S.-Kenya State Visit, Equity Group hosted a roundtable discussion in the U.S. Senate. This event brought together high-ranking congressional leaders, government officials, and leaders [...]
KCB Group Q1 Profits Soar 69% Amid Increased Loan Provisions
KCB Group Plc's after-tax profits for the first quarter ending March 31, 2024 surged by 69% to KES 16.5 billion driven by substantial increases in both net interest income and [...]KCB Bank Secures US$95M Credit Line from Proparco
KCB Bank Kenya has announced that it has secured a $95 million credit line from Proparco, a subsidiary of Agence Française de Développement (AFD) Group. The facility will be used [...]Citibank Kenya Refutes Breach of Contract Claims by Client
Corporate lender Citibank Kenya has refuted claims made by a client in letters to the bank and to the Central Bank of Kenya (CBK) that it breached its fiduciary duties. [...]Finance Bill 2024: Kenyan Banks Oppose 16% VAT on Financial Transactions
The Kenya Bankers Association (KBA) has urged the Government and the National Assembly to reconsider the proposed imposition of a 16% Value Added Tax (VAT) on financial transactions outlined in [...]Co-op Bank Kenya Q1 2024 Up 7.7% to KES. 6.6 billion
Co-operative Bank of Kenya has reported its financial performance for the first quarter of 2024 with Profit After Tax (PAT) growing at 7.7% year-on-year to KES 6.6 billion. Co-op's focus [...]
