Mr James Ndegwa, the Capital Markets Authority (CMA) board chairman. PHOTO | SALATON NJAU | NMG The tenure of billionaire businessman James Ndegwa at the Capital Markets Authority (CMA) has come to an end, bringing to a close his six-year term that was marked with conflict of interest accusations. Mr Ndegwa, who was first appointed […]
Kenyatta Avenue Standard Chartered Branch in Nairobi. FILE PHOTO | NMG Staff costs at Standard Chartered Bank Kenya rose by Sh541 million in the year ended December, partly reflecting the impact of one-off costs relating to retrenchment 200 employees in the review period. StanChart’s results for the period shows that its payroll costs increased to […]
Kenyans borrowed nearly Sh1.2 billion every day on Fuliza and M-Shwari mobile loans last year, signalling a deepening debt dependence that increased with last year’s massive job losses caused by the Covid-19 pandemic. NCBA Bank financials released yesterday show the lender advanced a total of Sh432 billion Fuliza and M-Shwari mobile loans, which averaged about […]
NCBA Bank has recorded a decline in its net profit from Ksh. 7.8 billion to Ksh. 4.5 billion at the close of the financial year ended 31st December 2020. This is a 42% decline of its net profit compared to a similar period the previous year. The lender attributed the decline to the coronavirus pandemic […]
Nairobi — NCBA Group PLC has posted a profit after tax of Sh4.6 billion for the financial year ending December 31, 2020. The company’s pre-tax profit for the period under review was Sh4.98 billion, down 56 percent due to increased impairments, occasioned by the impact of COVID-19. This is the first time NCBA is announcing […]
NCBA Bank Kenya PLC designate chairman Isaac Awuondo with group managing director John Gachora during the unveiling of NCBA group new logo at Raddison Blu Hotel,Nairobi,October 3rd 2019,/DOUGLAS OKIDDY NCBA Group’s net profit declined 42 per cent to Sh4.6billion in the financial year ended December 31 2020 on the back of high levels of credit […]
Co-operative Bank of Kenya #ticker:COOP reclaimed its position as the country’s third-largest lender by assets in the year ended December when it also declared the biggest dividend payout in the industry of Sh5.8 billion. The lender closed the period with total Sh536.9 billion assets, placing it third after Equity Group’s #ticker:EQTY Sh1 trillion and KCB […]
Investors at the Equity Bank Group will walk home empty handed for the second year running after the lender withheld dividends on shrinking net earnings. The lender joined other tier top commercial banks in the country to announce a drop in 2020 year results on high loan loss provision due to Covid-19 economic pressures that […]
Co-operative Bank chief executive Gideon Muriuki (left) and President Uhuru Kenyatta. FILE PHOTOS | NMG The families of Jomo Kenyatta and former Central Bank of Kenya Governor Philip Ndegwa and individual investors Baloobhai Patel and Gideon Muriuki, the Co-operative Bank chief executive, are among the top beneficiaries of the combined Sh17.1 billion dividends that Kenya’s […]
Equity Bank and NCBA are the latest top tier banks to report double digit drops in profitability for the year ended December 2020, as lenders are hit hard by huge provisions for bad loans triggered by the Covid-19 pandemic. The two now join Absa Bank, Co-operative and KCB in the list of big banks who […]
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