Equity Group's Balance Sheet Crosses $10 Billion Mark After BCDC Migration
Equity Group's balance sheet has crossed the Ksh 1 trillion mark after migrating Congo's Banque Commercial Du Congo (BCDC) into its core banking platform. The BCDC migration made it the first bank [...]
Absa Bank Kenya Issues Profit Warning
Absa Bank Kenya Plc, formerly Barclays Bank Kenya Limited has issued a profit warning saying its net profit for the 2020 full year is expected to decline significantly mainly triggered [...]Kenya's Central Bank Announces Expiry of Waivers for Mobile Money Transactions
The Central bank of Kenya has announced that the emergency waivers for mobile money transactions will expire on December 31, 2020. The regulator said the measures established on March 16st 2020, [...]Kenya's Biggest Banks Grow Their Market Share
The nine largest banks in Kenya increased their market share in the banking industry to 74.68% in 2019 from 70.28% in 2018 according to Central Bank's Banking Supervision Report. The [...]
CBK Weekly T-Bills auction raises KSh 9.7 Billion
The Central Bank of Kenya (CBK) Treasury Bills Auction, accepted KSh 9.7 Billion worth of bids from the KSh 24 Billion that had been offered to investors by the Central [...]
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 [...]
