StanChart earnings up 17% to Sh8 billion
Kenyan unit of Standard Chartered Bank net profit for 2018 grew by 17 per cent to KSh8.1 billion mainly driven by income from government securities which increased by 10% to [...]
Chinese firm says Nairobi-Naivasha SGR 70% Complete
The China Communication Construction Company says it has laid 86 kilometres out of the overall length of 120.49 km of the Nairobi-Naivasha Standard Gauge Railway, signifying a 70 per cent [...]
Potential removal of rate cap is credit positive for Kenyan Banks: Moody’s
A recent High court ruling declared the law on lending rate caps as unconstitutional. The court gave a period of 12 months for the law to be reviewed. According to [...]Co-op bank net profit up 11.6%, bad loans up 41% to Sh 25 Billion
Co-operative bank full year 2018 net profit rose by 11.per cent to Sh12.7 billion. Interest income for the period rose by 6.6 per cent to KSh43 billion as non-interest income [...]35% of Kenyan Family Businesses Vulnerable to Digital Disruptions PwC
A recent survey by PwC reveals that 35 percent of family businesses feel vulnerable to digital disruption compared to 30% globally with the majority of the enterprises (67 %) of [...]NIC Group Net profit Up 2% to Sh 4.1Bn
NIC group recorded a marginal growth of 2 per cent in net profits from KSh4.1 billion earned in 2017 to KSh4.2 billion in 2018. Interest income from loans and advances [...]Regulator Approves Acquisition of Cemtech by Simba Cement
Competition Authority of Kenya has approved the acquisition of Cemtech by Devki Group owned Simba Cement. Cemtech is a subsidiary of Indian conglomerate Sanghi Group. The proposed transaction, therefore, involves [...]DTB net profit up 2% to KSh 7 billion
Diamond Trust Bank (DTB) Kenya after-tax profit grew slightly by per cent to reach KSh7.1 billion from KSh6.9 billion earned in 2017. Operating profit moved up 9 per cent to [...]CBK directs banks to review their compliance to anti-money laundering laws
The Central Bank of Kenya has directed all commercial banks, microfinance institutions and mortgage finance companies to nominate “an independent and competent external third party” to evaluate the institution’s compliance [...]Carbacid issues profit alert as half-year earnings drop by 36%
Carbacid Investments, the leading supplier of pure natural carbon dioxide gas in East Africa, has issued a profit warning to its investors. The company joins the growing list of listed [...]Nairobi court nullifies Kenya-Mauritius Double-Taxation Agreement
The High Court has invalidated a tax charter, The Kenya-Mauritius Double-Taxation Agreement which was signed between the two countries in 2012 to enable companies registered in both countries to enjoy [...]Rate Caps rendered Monetary Policy ineffective CBK
Before the law on interest rate cap came into effect, lending institutions were often accused of charging high rates and earning huge profits at the expense of borrowers. The law [...]
