NAIROBI, Kenya, Nov 18 – The Kenya Commercial Bank (KCB) group has reported a 131 percent jump in its net profits for the nine months ended September which rose to Sh25.2 bn aided by increased income growth and reduced loan provisions. Over the period, the group’s revenue surged 16 percent to Sh 79.9 billion on […]
Bolt-on deal should boost the group’s return on tangible equity to 12.7 per cent in 2024 Peter Roebben, the former head of KCB Bank Ireland. Photograph: Laura Hutton Peter Roebben, the former head of KCB Bank Ireland, was already on track to leave Dublin after two years to take over the helm of Brussels-based KBC […]
KCB Group Plc. , Kenya’s biggest bank by assets, plans to issue the nation’s first green bond by a commercial lender in 2022, according to Chief Executive Officer Joshua Oigara. “A green bond is one of the key actions we are looking at in our market,” Oigara said in an interview on Thursday in the […]
Business arrow graph chart shows business success. [Getty Images] Banks’ pretax profits for the nine months to September grew by 63.1 per cent, overtaking 2020 full-year earnings on the back of increased lending and reduced loan defaults. New data from Central Bank of Kenya (CBK) shows the earnings hit Sh145.48 billion in the review period, […]
KCB Group #ticker:KCB has declared an interim dividend of Sh1 per share after its net profit more than doubled to Sh25.1 billion in the nine months ended September. The lender becomes the second to declare a surprise interim dividend for the third quarter after Standard Chartered Bank Kenya #ticker:SCBK which has proposed a payout of […]
Standard Chartered Bank Kenya #ticker:SCBK reported a 46.6 percent net profit growth in the nine months ended September on the back of lower costs and higher non-interest income. Its net earnings in the review period stood at Sh6.3 billion, up from Sh4.3 billion a year earlier. StanChart declared a surprise interim dividend of Sh5 per […]
Safaricom Chief Executive Officer, Peter Ndegwa at a past event. Safaricom is banking on the increased uptake of its loan facilities led by Fuliza to break the Sh110 billion gross profit ceiling in 2022. Releasing the telco’s financial results for the first six months of the year yesterday, chief executive Peter Ndegwa hailed the overdraft […]
Seven more lenders, including three commercial banks, have joined the queue for refinancing of home loans under the state-backed plan which seeks to increase house ownership amongst workers earning less than Sh150,000 a month. The Kenya Mortgage Refinancing Company (KMRC) has said Co-operative Bank, NCBA and bottom-tier Credit Bank as well as four SACCOs have […]
East African banks remained resilient with higher Return on Equity (ROE) for the 12 months to September 30 signalling a relatively healthy performance for the regional lenders with shareholders deriving value from their investments amid the Covid-19 pandemic. FILE PHOTO | COURTESY Latest quarterly market report by analysts at AfricanFinancials Group shows that Kenyan banks […]
Equity Group #ticker:EQTY is open to repurchase a stake in mortgage lender HF Group, signalling a shift in its appetite to acquire rivals in the Kenyan market. Equity chief executive James Mwangi said the bank would review its interest in HF, seven years after selling its 24.7 percent stake to insurance group Britam. Britam plans […]
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