Equity Group shareholders will go for the second consecutive year without dividends after the board on Monday froze the payout as net profits fell 11.6 per cent to Ksh20 billion (about $182.3 million). The lender posted a drop in earnings from Ksh22.39 billion ($204 million) booked a year earlier on the back of a five […]
Tag: XNAI_KCB
Foreign investors snap two-week selling run at NSE
Foreign investors at the Nairobi Securities Exchange (NSE) returned a net buying position at the market last week, snapping a two-week selling run that has seen them cashing in on stocks whose prices had gone up ahead of book closures on dividends. Market data from the NSE showed that there was a net foreign inflow […]
HF share gains 46 percent on Britam stake sale plan
Mortgage financier HF Group’s #ticker:HFCK share price at the Nairobi Securities Exchange (NSE) has gone up by 46 percent in the last four days following a disclosure of an intended sale of Britam’s stake in the firm to a large bank. The share closed Thursday at Sh4.99 a unit, which is Sh1.57 higher than the […]
Britam Holdings to sell HF Group stake to a big bank
Insurance group Britam Holdings plans to sell part of its 48.2 percent stake in mortgage financier HF Group to one of the country’s big banks as part of a review of its investment portfolio. A director of Britam, which last week scrapped nine top executive positions, told Business Daily that a transaction adviser has been […]
StanChart Kenya pays dividend despite posting decade-low profit
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 […]
East Africa: Eight East African Firms in List of Continent’s Most Valuable Brands
Kenya’s mobile phone operator Safaricom has topped the list of Africa’s most valuable brands by market capitalisation, with shareholder wealth peaking at a record high of $14.14 billion in February 2021. According to a new monthly survey by analysts at AfricanFinancials Group, Safaricom, which is listed on the Nairobi Securities Exchange (NSE), floored West African […]
Britam Holdings to sell HF stake to a big bank
HF Group head office in Nairobi. FILE PHOTO | NMG Insurance group Britam Holdings plans to sell part of its 48.2 percent stake in mortgage financier HF Group to one of the country’s big banks as part of a review of its investment portfolio. A director of Britam, which last week scrapped nine top executive […]
KCB loses Sh2.2bn mobile revenue on free M-Pesa
A KCB branch in Nairobi. FILE PHOTO | NMG KCB Group lost Sh2.16 billion mobile banking revenue last year on waiver of transaction fees charged to customers in the wake of Covid-19 infection as the regulator sought to cut cash handling. The lender discloses that the mobile banking revenue dropped 22 percent to Sh7.71 billion […]
Eight East African firms in list of continent’s most valuable brands
A Safaricom shop in Nairobi. FILE PHOTO | NATION MEDIA GROUP Kenya’s mobile phone operator Safaricom has topped the list of Africa’s most valuable brands by market capitalisation, with shareholder wealth peaking at a record high of $14.14 billion in February 2021. According to a new monthly survey by analysts at AfricanFinancials Group, Safaricom, which […]
StanChart pays dividend despite posting decade-low profit
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 […]