Standard Chartered Bank Kenya shareholders are set for a dividend payout despite the lender’s full-year net profit declining by about a third on higher provisioning for loan defaults. The tier I bank said Thursday morning that the board has proposed a Sh10.50 dividend payout, being 16 per cent lower than the Sh12.50 that was paid […]
A StanChart bank branch in Nairobi. PHOTO | NMG Standard Chartered Bank Kenya shareholders are set for a dividend payout despite the lender’s full-year net profit declining by about a third on higher provisioning for loan defaults. The tier I bank said Thursday morning that the board has proposed a Sh10.50 dividend payout, being 16 […]
In Nairobi, if you give the man selling a phone by the street corner just a minute of your time, you end up buying expensive clay. Give the person on the other end of the phone probably from Kamiti prison another minute, you still lose more money. But even in the safest space, the capital […]
Diamond Trust Bank Kenya #ticker:DTB will shut down six branches countrywide from July as it seeks to cut operational costs. In a notice on Friday, the listed lender said the branches targeted for closure are within proximity to others, which will be merged with alternative ones in their respective areas. In Nairobi, the Oval Digital […]
Companies have resumed paying dividends to shareholders despite a difficult year as a result of the coronavirus pandemic that led to calls to conserve cash. When the Covid-19 pandemic struck last year, it negatively affected the performance of many firms. Some resorted to suspend cash distributions forecasting weaker earnings. The pre-emptive move was meant to […]
Shaken by the effects of the Coronavirus, the profits before taxes (BAI) of Kenyan banks fell drastically over the 11 months of 2020. According to Central Bank (CBK) data released on February 1, 2021, BAI fell 28.2 percent to 107.7 billion shillings ($ 979.15 million) from 150.1 billion shillings ($ 1.3 billion) a year earlier. […]
Banks have posted the lowest 11-month pre-tax profit in eight years, pointing to the massive disruption of Covid-19 to the sector that has enjoyed a history of strong growth in earnings. Latest data from the Central Bank of Kenya (CBK) shows that the pre-tax earnings in the period ended November 2020 declined by 28.2 percent […]
Kenyans defaulted bank loans worth Ksh73 billion in the 10 months to December 2020, data from the Central Bank of Kenya (CBK) has shown. As of March 2020, the total value of loans defaulted was Ksh351.73 billion, but the amount has increased to Ksh423 billion or 14.1 percent of the total Ksh3 trillion loan book. […]
Standard Chartered Bank Kenya #ticker:SCBK has been named the best overall bank in the country, according to the Kenya Bankers Association 2020 Customer Service Survey. The survey had over 15,000 respondents, including 455 persons living with a disability, and covered all the 47 counties. The bank also emerged overall best in Responsiveness and Digital Experience […]
Borrowers defaulted on Sh73.05 billion bank loans in 10 months to December alone, highlighting the gravity of the Covid-19 induced economic hardship that triggered massive layoffs and pay cuts. New Central Bank of Kenya (CBK) data shows that the value of loans defaulted hit Sh423 billion or 14.1 per cent of the total Sh3 trillion […]
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