Kenyan Banks to Suffer more Loan Losses in 2021 Mckinsey
Kenyan banks are expected to experience more losses in the coming year as customers struggle to service their loan facilities. Uncertainty posed by an upsurge in COVID-19 cases will continue [...]
IM Rwanda Receives $10 Million loan from World Bank
World Bank's private-sector lending arm, the International Finance Corporation (IFC), has loaned$10 millionto IM Bank (Rwanda) Plc, seeking to support SMEs facing COVID-19 cash-flow challenges. The loan is Rwanda's first [...]
Standard Chartered Bank Expects Net Profit to Fall by Over 25%
Standard Chartered Bank Kenya has issued a profit warning saying that its current performance forecast indicates a substantial decline in the profit after tax for the year ending 31st December [...]
Ethiopian Central Bank Allows Operation of Foreign Currency Accounts
The National Bank of Ethiopia recently issued a directive allowing Ethiopian residents and non-residents to open and operate foreign currency accounts in the country. The directive is one of many [...]SACCOs Restructure Loans Worth KSh 4.7 Billion as Pandemic Hits
Savings and Credit Societies( SACCOs) restructured loans totalling KSh 4.7 billion in 3 months to June 2020, reflecting the difficulties members were facing in loan repayment. According to the Kenya [...]Kenyan Banks have Adequate Buffers Against COVID-19 Shocks, Report
Kenya's banking industry has sufficient capital buffers to shield itself from COVID-19 pandemic shocks. This is despite potential effects of the pandemic on the industry's asset quality and overall performance. [...]BK Group's 9 Months Net Income Rises 10.5% to $ 28.6 Million
BK Group Plc, the holding company of Bank of Kigali- the first Rwandese lender to cross-list at the Nairobi Securities Exchange(NSE), has recorded a rise in its net income for [...]HF Group sinks into KSh 730.2 Million Net Loss, issues profit warning
Mortgage lender HF Group Plc has widened its Net losses to KSh 730.2 Million in Q3, 2020 from a loss of KSh 84.6 Million, triggering the firm to issue a [...]Family Bank Net Earnings in Q3 2020 Hit KSh 1.1 Billion
Family Bank, a middle tier lender, has shrugged a challenging business environment posed by the COVID-19 pandemic to post a 70% increase in Net Earnings to KSh 1.1 Billion at [...]Banks Restructure Loans worth KSh 1.38 Trillion as Virus hits Loan Books CBK
Data from Central Bank of Kenya(CBK) shows that commercial banks have now restructured loans totalling KSh 1.38 Trillion, which is 46.5% of the industry’s total loan book of KSh 2.9 [...]NCBA's Loan Loss Provisions Grow by 75% in 3 Months to KSh 13.4 Billion
NCBA Group's conservative provisioning for loan losses has seen the bank's loan loss provisions increase by 75% in just three months to KSh13.4 billion in September from KSh7.6 billion in [...]Citibank Kenya Q3 Net Profit Edges up 4.2% to KSh 2.5 Billion
Citibank Kenya, a lender whose niche is in the corporate segment, has recorded a modest increase in its net earnings, for the nine months ending September 2020, to KSh 2.5 [...]
