NCBA Group Q1 Net Profit Up 50% Driven by Surge in Forex Income
NCBA Group Plc has announced its financial results for the first quarter of 2023 reporting an impressive profit after tax (PAT), which reached KES 5.1 billion, representing a remarkable 50% [...]
KCB Group's Q1 2023 Earnings: PAT Unchanged, Surge in Customer Deposits
KCB Group has released its financial results for the first quarter of 2023 posting a decline of 1.1% in profit after tax, amounting to KES 9.8 billion. However, the bank's [...]Kingdom Bank Surges Up the Ranks in Kenya's Banking Sector
The Central Bank of Kenya (CBK) has released the 2022 Bank Supervision Annual Report in line with its mandate of promoting and maintaining the safety, soundness and integrity of Kenya’s [...]Kenya Bankers Association Urges Central Bank to Retain Interest Rate
The Kenya Bankers Association (KBA) has urged the Central Bank of Kenya (CBK) to retain its benchmark interest rate, the Central Bank Rate (CBR), at 9.50% during its upcoming meeting [...]Mauritian PE Fund Shorecap III, LP Acquires 20% Stake in Kenya's Credit Bank
The Central Bank of Kenya (CBK) has made an official announcement regarding the acquisition of a 20 percent shareholding in Credit Bank PLC (CBP) by Shorecap III, LP (Shorecap). This [...]Equity Group Achieves Strong Q1 Profit Growth and Regional Expansion
Equity Group, a leading banking conglomerate, has announced its financial results for the first quarter of 2023, posting an 8% increase in Profit After Tax to Ksh. 12.8 billion compared [...]Stanbic Bank Q1 2023 Profit Up 84% To Kes 3.9 Billion
Stanbic Bank has reported a profit after tax of KShs. 3.9 billion for the first quarter ended 31st March 2023. This marks an 84% increase in earnings, which the bank [...]Akin Dawodu: Citi’s Cluster Head for Sub Sahara Africa on the State of Banking
Akin Dawodu's background and how he ended up in the banking industry Akin Dawodu has been Citibank’s Cluster Head for Sub Sahara Africa (SSA) since November 2019, providing business oversight [...]
Fintech Firm Shara Inc. Acquires Majority Stake in Maisha Microfinance
Shara Inc., a Delaware-based fintech firm co-founded by Grant Brooke and Peter Njonjo, has acquired a controlling stake in Maisha Microfinance Bank Limited (Maisha MFB) in Kenya. The Central Bank [...]Abdi Mohamed Assumes Office as CEO and MD of Absa Bank Kenya
Following approval from the Central Bank of Kenya, Mr. Abdi Mohamed has assumed the position of CEO and Managing Director of Absa Bank Kenya Plc, effective 1 May 2023. The [...]Fingo Africa and Ecobank join forces to create mobile app for instant bank account opening and mobile payments
Ecobank Kenya, a subsidiary of the pan-African banking Group Ecobank, has launched a new app called Fingo Africa in collaboration with Kenyan fintech company Fingo. The app is designed to [...]Kenya Introduces Standardized QR Code System for Easy and Secure Digital Payments
The Central Bank of Kenya (CBK) has announced the issuance and implementation of a new standard, the Kenya Quick Response Code Standard 2023. This standard will guide how Payment Service [...]
