Credit growth at Kenya’s largest banks is set to expand at the fastest pace in six years as they shift cash parked in government securities to lending to the private sector. Lenders in East Africa’s biggest economy were stymied as regulatory decisions hampered their ability to price risk. The central bank is now expected to […]
Chief Executive Officer Kariuki Ngari. [Wilberforce Okwiri, Standard] Standard Chartered Bank Kenya is disrupting the status quo by increasing female representation in the boardroom. How have you managed to achieve this inclusion? I think that’s something that we have deliberately worked on. It has been deliberate. When I look at our total staff population today, […]
(Bloomberg) — Credit growth at Kenya’s largest banks is set to expand at the fastest pace in six years as they shift cash parked in government securities to lending to the private sector. Lenders in East Africa’s biggest economy were stymied as regulatory decisions hampered their ability to price risk. The central bank is now […]
Screen showing stock prices at the Nairobi Securities Exchange. [Wilberforce Okwiri, Standard] The value of investors’ wealth at the Nairobi Securities Exchange (NSE) today touched 12-month low, majorly pulled down by Safaricom as foreign investors sustained selling. Market data shows investors’ paper wealth has in the last seven days of trading dropped by Sh79.91 billion […]
Guests follow proceedings during a Kenya bankers meeting in Nairobi on October 15, 2019. FILE PHOTO | NMG Kenya’s top eight banks cut their provisions against loan defaults by nearly half last year, helping drive the combined net profit by 80.29 percent to Sh132.41 billion. KCB #ticker:KCB , Equity #ticker:EQTY , Co-op Bank #ticker:COOP , […]
Securities trader Mbuthia Irungu at Nairobi Securities Exchange (NSE) trading floor at the Exchange building in Nairobi on August 26, 2020. PHOTO | SALATON NJAU | NMG The raft of dividend announcements and record earnings made in the past three weeks has failed to excite the stock market, with share prices registering muted growth despite […]
After a period of reduction in net earnings, mass layoffs and freezing of dividends in 2020, Kenyan lenders have suddenly bounced back amid modest growth in revenues and reduction in operating expenses. So far six top tier banks which have published their financial performance figures for the 12 months to December 31, posting on average […]
KBA chief executive Habil Olaka /FILE Standard Chartered bank is Kenyans’ most preferred mobile banking under tier one according to Kenya Bankers Association (KBA) poll. In the poll released on Thursday, Family bank was named the best under tier two while the African Banking Corporation (ABC) Bank was named the best under tier three. Most […]
Standard Chartered Bank Kenya CEO Kariuki Ngari (left) and Chief Financial Officer Chemutai Murgor during the announcement of full-year 2021 results Standard Chartered (StanChart) Bank of Kenya’s staff costs have fallen to the lowest level in six years after shedding over 800 jobs since 2014. Latest disclosures by the bank show that staff costs dropped […]
Co-operative Bank branch along Haile Selassie Avenue, Nairobi. FILE PHOTO | NMG Co-op Bank reduced its loan loss provision by the smallest margin among the big banks in the year ended December, slowing down its profit growth and leaving it with higher buffers for absorbing defaults. Stockbroker AIB-AXYS says the lender has been the most […]
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