Absa Bank Kenya Reports 30% growth in Q3 Net Profit to KES 10.7 billion
Absa Bank Kenya PLC has reported a Profit after Tax of KES 10.7 billion for the period ended September 30, 2022, a 30% growth compared to a similar period last [...]
Equity Group Q3 2022 Net Profit Jumps 28% to KES 34.4 Billion as deposits surpass KES 1 trillion
Equity Group Holdings on Tuesday reported a 28% increase in profit after tax to KES 34.4 billion for the nine months to 30th September 2022. The Group recorded a 15.2% growth [...]Google Bans Unlicensed Loan Apps in Kenya
Google has taken steps to ban unauthorised loan apps operating in Kenya from its Play Store, the market on Android devices. With effect from January 31, 2023, Google will require instant loan [...]Joshua Oigara Takes Over as CEO of Stanbic Bank Kenya
Stanbic Bank has announced the appointment of former KCB Group CEO Joshua Oigara as the new Chief Executive of Kenya and South Sudan operations, effective December 1st, 2022. Oigara will [...]
Rwanda Central Bank Raises Lending Rate to 6.5%
The Rwanda Central Bank has raised its lending rate from 6.0% to 6.5% as it battles a drastic rise in the cost of living. High food prices as well as [...]KCB Group Declares KES 3.2 Billion Dividends As Q3 2022 Net Profit Jumps 21% to KES 30.6 Billion
KCB Group has released its financial results for the first nine months of 2022 recording 21.4% rise in net profit rose to KES 30.6 billion mainly driven by growth in [...]National Bank Launches KES 1.13 Billion Loan Insurance Agreement for SMEs
National Bank of Kenya (NBK) has joined forces with African Guarantee Fund (AGF) in offering a partial guarantee concerning disregards arising from loans to various Small and Medium Enterprises (SMEs) [...]
Explained: How Neobank Branch Protects Customers' Data
Neo-banks or digital banks are online-only fintech platforms that operate solely or via mobile apps, without any physical branches. A neobank primarily positions itself on customer experiences and innovation in [...]KCB Tanzania Graduates to Tier 1 Status as Assets Hit TSh1 Trillion
KCB Tanzania has graduated to tier one status after increasing its asset value to TSh1.04 trillion. For a bank to earn tier one status, the highest ranking in the banking [...]Safaricom Seeks to Reinstate Charges on Bank-to-Mobile Money Transactions
Safaricom is seeking to reinstate charges on bank to mobile-money transactions, even as it looks to soon hold talks with the Central Bank of Kenya (CBK) on the same. Safaricom Chief Executive [...]Absa Bank Appoints Kedibone Imathiu as Independent Non-Executive Director
The Board of Directors of Absa Bank Kenya PLC has announced the appointment of Kedibone Imathiu as an Independent Non-Executive Director of the Bank, with effect from Tuesday, 1st November [...]Mastercard and Cellulant Partner to Allow Consumers across Africa to shop and pay online
Mastercard and Cellulant have partnered to allow Cellulant customers across Africa to shop and pay online with global merchants wherever Mastercard is accepted. The Mastercard virtual payment solution, linked to [...]
