Growth in earnings by commercial banks will soon grind to a halt under prevailing macro-economic conditions, the Kenya Bankers Association (KBA) has warned. Though a majority of lenders have continued to churn out a profit under the interest rate capping bottlenecks, KBA terms the underlying growth elements as unsustainable in the long-run. Commercial banks have […]
Category: Banking
Ecobank guides HNW customers on sustainable wealth creation
Ecobank Nigeria has organised a wealth-building and sustainance breakfast forum for its High Networth Individual (HNI) customers. The lender used the forum to pledge its commitment to helping its customers to sustain their family wealth, and ensure that their businesses transit from one generation to the other and have a better future for the children. […]
Kenya: Bank Takeover embroiled in political row
KCB Group’s bid to acquire Kenya’s troubled National Bank has run into strong headwinds following claims that the deal is being done in violation of the rules governing the sale of state-owned companies. Opponents of the sale say that Kenya’s National Treasury, which is handling the transaction, has not complied with the privatisation law, and […]
Ghana’s Banks start move to EMV (Europay, MasterCard,Visa) standard
Banks have succeeded in converting domestic cards from magnetic stripes to EMV. The EMV technology has an enhanced security system which is the preferred bank card technology globally. EMV stands for Europay, MasterCard and Visa. It’s the global standard for chip-based Debit and Credit Card transactions. It’s a joint effort between Europay, MasterCard and Visa […]
Ecobank grows 2018 Profit after Tax by 46% to $284m
Ecobank Transnational Incorporated Plc (ETI) has started reaping the benefits of new strategies it put in place to reposition the pan-African financial institution as it posted highly improved results for the 2018 financial year. ETI recorded a gross earnings of N773.338 billion for the year ended December 31, 2018, compared with N763.634 billion in 2017. […]
Kenya: Top Banks’ Profits due to Central Bank regulations reducing loan loss provisions
Kenya’s top banks have posted impressive profits for 2018, benefiting from the Central Bank’s one-year earnings "protection" window in the implementation of the International Financial Reporting Standard (IFRS 9) which demands higher provisioning for bad loans. Analysts had predicted that the banks would report nearly flat revenue performance in the face of declining credit to […]
Ghana Amalgamated Trust vows to maintain local ownership of 5 banks
Eric Nana Otoo, Managing Director of Ghana Amalgamated Trust (GAT) The Ghana Amalgamated Trust (GAT) has vowed to maintain the local ownership of the five indigenous banks to benefit from its intervention. The Agricultural Development Bank (ADB), National Investment Bank (NIB), OmniBank Ghana Limited / Bank Sahel Sahara Ghana (OmniBank / BSIC), Universal Merchant Bank […]
Republic Bank Ghana joins hand with Vodafone Ghana to provide mobile cash services
In addition to fund transfer and bill payments, Republic Bank of Ghana has also sought to extend its savings and loans products on the Vodacash platform. The renowned commercial bank in Ghana, Republic Bank Ghana has joined hand with Vodafone Ghana for the purpose of delivering mobile money cash services. Republic Bank Ghana can now, […]
NBS’ Kin Kariisa Appointed Board Chairman Eco Bank
The outgoing Board Chairman of Eco bank, Henry Lubwama (R) with his successor, Kin Kariisa during the event. Kin Kariisa, the CEO of Next media services which umbrellas NBS Television, is the new Board Chairman of Eco Bank Uganda replacing Henry Lubwama who has served in the position for years. On the event organized to […]
Standard Bank Group pay 17% premium to take stake up to 65% in Nigerian subsidiary
Standard Bank Group-Africa’s largest financial institution, dug deep into its Nigerian business last week with the acquisition of additional shares worth N61.3 billion in Stanbic IBTC Holdings Plc to increase its majority equity stake in the Nigerian subsidiary to 64.44 per cent. In a regulatory filing announcing the transaction, Company Secretary, Stanbic IBTC Holdings Plc, […]
