Equity Bank Loses KShs. 1.5bn in Latest Insider Heist
The Banking Fraud Unit is investigating a case where Kenya's second largest lender, Equity Bank, lost KSh 1.5 billion last month to an insider and his father. According to the [...]
Equity Group Half Year Profits Up 12.5%, Ugandan Subsidiary's Profits Dip by 23%
Equity Group posted a 12.5 percent growth in profit after tax in the first half of 2024 to KSh 29.6 billion from KSh 26.3 billion recorded in the same period [...]AfDB Approves $40million Risk Cover for Ethiopia's Dashen Bank
The African Development Bank Group (AfDB) has approved a $40mn risk cover to support Dashen Bank's trade finance activities. This much-needed guarantee facility will be instrumental in expanding our bank’s [...]
Stanbic's Half Year Profits Up 2.3%, South Sudan Subsidiary Profits Double
Stanbic Holdings registered a mild 2.3 per cent increase in net profit in the first half of 2024 to KShs. 7.2 billion from KShs. 7.1 billion in the same period 2023. [...]CBK Makes Changes to Currency Notes, Hires German Company to Print New Notes
The Central Bank of Kenya (CBK) has announced four changes to Kenyan currency notes the KSh 1,000, KSh 500, KSh 200, KSh 100, and KSh 50. This is just [...]How Digital Payments Can Accelerate Growth of MSMEs
Many young Kenyans today are tech savvy and only businesses that transition to digital solutions can survive. By availing options that can save time and money, businesses become more competitive [...]Bankers Urge CBK to Hold Interest Rate at 13%
Bankers have urged the Central Bank of Kenya (CBK) to maintain its benchmark rate steady at 13% during the next Monetary Policy Committee meeting on August 6th. “Considering these developments, [...]Markets Regulator Approves Mi Vida REITs Manager, Issues Licenses to Over 10 Others in Coffee and Fund Management
Kenya's Capital Markets Authority (CMA) has granted several new licenses and approvals across multiple sectors citing move to deepen the capital markets industry. Mi Vida Homes Licensed as REIT Manager [...]NCBA Waives Monthly Fees for Retail, Commercial Accounts
NCBA Group will not charge monthly fees for their retail banking accounts effective 1st July 2024 in a bid to enhance their customers' value for money. “This new era of [...]Stanbic and Stanchart's 2023 Sustainability Reports Highlights
Stanbic and Stanchart 2023 Sustainability Reports indicate how the lenders generated, sustained, and maximized positive impact on the society, environment and economy during the year. Key Highlights The number of [...]Bank's Regional Subsidiaries' Profits Double as DRC Takes Lead
The Democratic Republic of Congo (DRC) is now the most profitable market for Kenyan banks' subsidiaries within the East African Community (EAC), overtaking Rwanda in 2023. With the high global [...]Bank Accounts With Over KShs. 500k Declined by 40% in 2023
Bank accounts with more than half a million shillings declined by 39.89% while accounts with below KShs. 500 grew by 50.4% in 2023
