Absa Bank Kenya Reports 34% Growth in 2022 Net Profit to KES 14.6 Billion
Absa Bank Kenya PLC has reported a Profit after Tax of KES 14.6 billion for the period ended December 31, 2022, a 34% growth compared to a similar period last [...]
HSBC UK acquires Silicon Valley Bank UK for £1 after SVB collapse
HSBC UK Bank plc, the UK ring-fenced subsidiary of HSBC Holdings plc, has acquired Silicon Valley Bank UK Limited (SVB UK) for £1. This comes after SVB collapsed on Friday [...]Kenyan Consumers Show Strong Savings Culture Despite Financial Challenges; Tala Money March report
Tala, a fintech licensed and regulated by the Central Bank of Kenya, recently conducted research to understand the impact of the cost of living on its customers in the Kenyan [...]
Stanbic Holdings Reports Strong Financial Results, Declares KES 4.98 billion in dividends
Stanbic Holdings Plc has released its full-year 2022 financial results, revealing a strong performance across all revenue lines. Despite the challenges faced in the market, the bank achieved a significant [...]Central Bank of Nigeria Issues Operational Guidelines for Open Banking
The Central Bank of Nigeria has issued operational guidelines for open banking in Nigeria. Open banking is a financial concept that allows third-party financial service providers to access banking data using [...]EIB and TDB team up to unlock $400m for African businesses affected by trade shocks
Investment by business across Africa most impacted by trade and supply chain challenges will be supported by a new targeted financing initiative backed by the European Investment Bank (EIB) and [...]JP Morgan opens regional office in Nairobi, Kenya
JP Morgan, the largest bank in the United States and the world's sixth-largest bank by total assets, has announced the opening of a regional office in Nairobi, Kenya. Kenya's President [...]Ecobank Kenya appoints Josephine Anan-Ankomah as new Managing Director
Ecobank Transnational Incorporated (ETI) has announced the appointment of Ghanaian career banker, Mrs. Josephine Anan-Ankomah as the Managing Director, Ecobank Kenya, following approval from the Central Bank of Kenya. Mrs. [...]Acorn, Absa Announce KES 6.7 Billion Financing Deal For Students’ Affordable Housing
Rental housing developer Acorn Holdings Limited together with Absa Group and Absa Bank Kenya, have announced the successful conclusion of a KES 6.7 Billion financing agreement to support the development [...]Egyptian lender CIB announces 100% acquisition of Mayfair Bank Kenya
Commercial International Bank (CIB) Egypt has announced the full acquisition of Mayfair CIB Bank Limited in Kenya. The Central Bank of Kenya (CBK) has granted consent to CIB of Egypt [...]High Court Allows KCB Absa to Seize Savannah Cement Assets over Unpaid Debts
The High Court has allowed KCB Group and Absa Bank to seize assets of Savanna Cement Ltd over a debt running into hundreds of millions of shillings. Justice Wilfrida Okwany [...]Absa Partners with African Guarantee Fund to Train 600 Women Entrepreneurs
Absa Bank Kenya has partnered with Melanin Kapital and the African Guarantee Fund (AGF), seeking to train at least 600 women entrepreneurs with free investment readiness. The programme, dubbed Tuungane 2x [...]
