Afreximbank Provides $400 Million to the Export Trading Group
Afreximbank (The African Export-Import Bank), Africa’s foremostmultilateral trade finance institution, has provided a $400 million revolving global credit facility to the ETG (Export Trading Group). The credit facility seeks to [...]
Diamond Trust Bank Half-year Net Earnings Decline to KSh 2.6 Billion
The restructuring of a huge chunk of its loan book pushed down the Net Earnings of listed Diamond Trust Bank (DTB) to KSh 2.6 Billion from KSh 4.1 Billion recorded [...]
Stanchart Half-year Net Earnings Slump to KSh 3.2 Billion
Standard Chartered Bank Group has reported a decline in its half-year net earnings to KSh 3.2 Billion. This is compared to KSh 4.7 Billion posted over a similar period last [...]Absa Group Half-year Net Earnings Drop 82% Due to Covid-19 Pandemic
South Africa-based Absa Group has reported an 82% slump in its Half-year Net earnings after the lender increased its provisions against potential credit losses four-fold to US$ 869.8 Million. In [...]Equity Group Half Year Profit Falls 24.4% Y.o.Y to KSh 9.1 Billion
Equity Group Holdings (EGH) profits from January to June 2020 have declined by 24.4 per cent YoY to Ksh9.1 billion from Ksh 11.9 billion in a similar period last year. [...]
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. [...]
