State to Share Data on 7M Creditworthy Hustler Fund Borrowers with Banks
The government will share 7 million consistent Hustler Fund borrowers' data with banks for bigger loan consideration. “These are individuals who could not access credit from banks and other financial [...]
StanChart's Net Profit Up 11.8%, Lender Dumps Bonds
StanChart Bank Kenya (SCBK) has posted a net profit of KSh 9.7 billion in Q32023. This is despite the lender halving its government bond holdings, taking a loss in process, [...]
Kenyan Banks are Grappling With IFRS, Enhancing Automation CBK Survey
A number of Kenyan banks are still grappling with how to implement several International Financial Reporting Standard (IFRS) standards, especially (IFRS) 9 on Financial Instruments, which came into effect on [...]Equity to Complete Acquisition of Cogebank in November, Records KSh 36.2b Net Profit
Equity Group is expecting to finalise the acquisition of Rwanda’s Compagnie Générale de Banque, better known as Cogebank, by the end of November. The banking group made the disclosure on [...]Co-Op Bank Posts 7.6% Growth in Net Profit to KSh 18.4Billion
Co-Op Bank of Kenya Group recorded a net profit of KSh 18.4 billion at the end of the third quarter of 2023, marking a 7.6% growth in earnings driven by [...]2023 Sees Record Entries as Banks Vie for Top Spots in Environmental Impact
The Kenya Bankers Association (KBA) has acknowledged 26 banks for their outstanding commitment to fostering positive environmental impact through sustainable lending practices. In a ceremony marked as the 7th edition [...]
KCB Group: What’s in a Valuation?
In the ever-evolving landscape of banking and finance, the Nairobi Securities Exchange (NSE) has witnessed a significant shift in the valuation race, with some of the largest companies facing a [...]British Government's BII Sells 10.13% Stake in IM Group
As such, shareholders of the Company and the public at large are strongly advised to exercise caution when dealing with the shares of IM Group Plc during this period of transition, reads the statement.CBK Cautions Against Unlicensed Money, Value Transfer Services
The Central Bank of Kenya has warned against dealing with entities and persons providing money or value transfer services without a license or authorization from CBK. This follows reports that [...]CBK Accepts Bids Worth KSh 23.7 Billion at Weekly T-Bills Auction
The Central Bank of Kenya(CBK) received bids worth KSh 24.7 billion at the weekly treasury bills auction, an oversubscription of 102.8%, out of KSh 24 billion on offer, and accepted [...]SMEP Microfinance Sells 51% Stake to US Organization
The Central Bank of Kenya (CBK) has announced the acquisition of 51 percent of the shareholding of SMEP Microfinance Bank PLC (SMEP MFB) by HOPE Advancement Inc. (HOPE). Prior to [...]CBK is Committed to Green Finance-Governor Dr Kamau Thugge
Central Bank of Kenya(CBK) Governor Dr. Kamau Thugge has disclosed that to make Kenya a green finance hub, the monetary authority has embarked on a second phase of reforms that [...]
