(Ecofin Agency) – Less than a year after it entered into a strategic agreement with Atlas Mara to acquire its stake in Banque Populaire du Rwanda (BPR), Kenyan financial group KCB Group has announced it has completed the deal. Joshua Oigara’s group is now the majority shareholder of BPR with a 62.06% stake. The deal […]
Diamond Trust Bank Group recorded a 20.1 percent jump in net earnings in the six months to June this year, helped by a rise in interest and non-interest income. The lender’s net profit in the review period stood at Sh3.15 billion compared to Sh2.62 billion the year before. Its interest income increased six percent to […]
Digital advertising spending grew by 15 percent in the first half of 2021, compared to a similar period last year, a new report shows, as the sector rebounded from economic setbacks caused by the Covid-19. The report commissioned by the International School of Marketing (ISA), a professional school that offers marketing and brand communications training […]
NCBA #ticker:NCBA, Stanbic #ticker:SBIC and Co-op Bank #ticker:COOP have won a lucrative contract to keep more than Sh31.2 billion in annual pension contributions by public servants following the rollout of the fund on January 1 this year. The Treasury picked the three banks as custodians of the billions of shillings collected from more than 350,000 […]
Kampala, 25 th August 2021 – Kenya Commercial Bank (KCB) has today announced a financing support Memorandum of Understanding (MOU) with the Uganda National Association Of Building And Civil Engineering Contractors (UNABCEC) for the association’s members. The announcement followed the official signing of the MOU by the Managing Director, KCB Uganda and UNABCEC at KCB […]
KCB Rwanda Plc and Banque Populaire du Rwanda Plc ( BPR) have commenced a process of merging into one entity to be named BPR Bank, officials at the lender have said. This follows an announcement by KCB Group, the parent company that they had concluded the acquisition of majority stake in BPR as of August […]
A Diamond Trust Bank ATM lobby at Garden City Mall in Nairobi. FILE PHOTO | NMG Diamond Trust Bank Group recorded a 20.1 percent jump in net earnings in the six months to June this year, helped by a rise in interest and non-interest income. The lender’s net profit in the review period stood at […]
East Africa’s top retail banks bounced back to profitability in six months to June 2021 by doubling their net earnings to over Ksh33 billion ($302.75 million), signalling a resilience of the Covid-19 ravaged economy with prospects of better dividends to shareholders by the end of the financial year. The lenders, KCB Bank and Equity Bank […]
James Mwangi, Equity Group Holdings managing director and CEO, with head of financial and regulatory reporting Mary Nteere during the announcement of the regional bank’s half-year results in Nairobi on August 17. Picture: File Equity Bank was the highest earner having made a profit of Ksh8.8 billion ($80.73 million), bringing its total net profit to […]
CBK data show that lenders recorded a profit before tax of Sh96.4 billion in the first half of this year. Local banks have in the last week been releasing their financial results for the first half of 2021, and the growth in their profitability at a time when the country is still grappling with the […]
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