Kenyan Bank regional subsidiaries deliver a 31.5% increase in profits

Kenyan banks registered a 31.52 percent increase in regional subsidiaries’ pre-tax profit to Sh11.57 billion last year supported by increased lending, offering hope for more growth opportunities across the borders. The growth in profit from previous year’s Sh8.79 billion was specifically from subsidiaries in DR Congo, Tanzania, Burundi and Mauritius even as Uganda’s fortunes waned. […]

NCBA (NIC and CBA merger) add shares on Nairobi Stock Exchange

NCBA Group, an amalgamation of NIC Group and Commercial Bank of Africa, yesterday listed 793.8 million new shares at the Nairobi bourse, further cementing the merger. The newly entity officially began operating as one on October 1, after Central Bank of Kenya gave the green light on September 27. Given NIC Group initially had 703.9 […]

KCB Group lists more shares at NSE to fundraise for expansion

KCB Group Plc on Friday listed an additional 142,979,717 shares at the Nairobi Securities Exchange (NSE) following the successful acquisition of the National Bank of Kenya (NBK). The additional stock now pushes the lender’s shares to 3,209,043,204, further cementing its position as the biggest bank in terms of market capitalization at the Nairobi bourse. KCB […]

S&P affirms Ecobank B/B rating with stable outlook

We expect Ecobank group’s pan-African reach and stable operating conditions to support its revenue growth prospects. Although we see risk in the group’s high double leverage, there is adequate liquidity at the holding company level. Notwithstanding its weaker financial performance, we continue viewing Ecobank Nigeria Ltd. as core to the group’s strategy. We are therefore […]