Family Bank Half-year Net Earnings Hit KSh638.5 Million
Family Bank, a mid-sized lender, has defied a tough business terrain attributed to the coronavirus pandemic, to nearly double its net earnings to KSh 638.5 Million in H1, 2020. This [...]
Absa to Phase out Cheques by End of 2020, Citing Decline in Volumes
Absa Group will phase out cheques as a means of payment by the end of this year. The bank will still honour cheques from third parties, as the instrument slowly [...]
Reprieve for Banks as Court Bars Taxation of Interchange Fees
Nairobi Commercial Court has ruled that interchange fees should not be taxed saying that it does not constitute a service. Justice Mary Kasango made the ruling in a case where [...]
CBK to Hold Next Policy Meeting on 29th September
The Central Bank of Kenya (CBK) top policy-making organ-the Monetary Policy Committee will hold its next meeting on September 29th, 2020, the bank has said. At its last meeting in [...]Stanbic Holdings Half-Year Profit Down by 36% to KSh 2.6 Billion
Stanbic holdings profits in the first half of 2020 have dropped to Ksh2.55 billion from Ksh4.06 billion reported in a similar period last year. In the period under review, total [...]Co-op Bank's Half-Year Net Profit Falls by 3.6% to KSh 7.2 Billion
Kenya's Co-operative Bank posted KSh 7.2 Billion Net Earnings in the six months period that ended on 30th June 2020. This is compared to KSh 7.5 Billion over a similar [...]KCB Half-Year Net Earnings Down by 40% to KSh 7.6 Billion
Considered the most profitable lender in East Africa, KCB Group has posted KSh 7.6 Billion in its 2020 half-year net earnings, a 40% decline from the previous period last year. [...]DTB IFC Partner to Offer KSh 5.4Billion Loan to SMEs
Diamond Trust Bank Kenya Limited (DTB) today announced that it has partnered with the International Finance Corporation (IFC) to advance loans to small businesses in Kenya during the pandemic. DTB [...]Equity Group Completes Acquisition of 66.53pc Stake in BCDC for $95M
Equity Group holdings (EGH) has completed the acquisition of a 66.53 per cent stake in Banque Commerciale Du Congo (BCDC) for $95 million following receipt of corporate and regulatory approvals. [...]KBA, FSD Kenya Partner to Promote Financial Inclusion for PWDs
Seven banks under the auspices of the Kenya Banking Association (KBA) will participate in a program to facilitate financial inclusion of people with disabilities (PWDs). The participating banks include Absa [...]Regulator Approves Co-op Bank's 90% Stake Acquisition in Jamii Bora
Cooperative Bank of Kenya has received all the necessary approvals to purchase 90% ownership in Jamii Bora Bank. The acquisition will take effect on 21st August 2020. The deal has [...]
Pesalink Appoints Jack Ngare, 3 Others to their Board
Integrated Payments Service Limited (IPSL), the company behind Pesalink has appointed four new non-executive directors to join its board. The new directors who joined the board on 1 July 2020 [...]
