Standard Chartered Bank Kenya CEO Kariuki Ngari (left) and Chief Financial Officer Chemutai Murgor during the announcement of full-year 2021 results Standard Chartered (StanChart) Bank of Kenya’s staff costs have fallen to the lowest level in six years after shedding over 800 jobs since 2014. Latest disclosures by the bank show that staff costs dropped […]
Tag: XNAI_SCBK
Co-op Bank leads in funds set aside for absorbing defaults
Co-operative Bank branch along Haile Selassie Avenue, Nairobi. FILE PHOTO | NMG Co-op Bank reduced its loan loss provision by the smallest margin among the big banks in the year ended December, slowing down its profit growth and leaving it with higher buffers for absorbing defaults. Stockbroker AIB-AXYS says the lender has been the most […]
StanChart Bank profit jumps 66pc to Sh9 billion
Standard Chartered Bank Kenya chief executive Kariuki Ngari. PHOTO | DIANA NGILA | NMG Standard Chartered Bank Kenya has reported a 66.2 percent jump in net profit the full year to December 2021, helped by reduced costs and growth in non-interest income. The lender recorded Sh9.04 billion in profit after tax, the highest in five […]
StanChart Kenya’s profit soars, oil price surge clouds outlook
A pre-colonial era monument stands along Kenyatta Avenue in front the Standard Chartered Bank in Kenya’s capital Nairobi, file. . REUTERS/Noor Khamis/File Photo NAIROBI, March 14 (Reuters) – Standard Chartered Bank Kenya said on Monday its pretax profit soared 70% last year to a five-year high but surging energy prices because of Russia’s invasion of […]
Stanchart partners with Sanlam to launch SC Shilingi Money Market Fund
Standard Chartered Bank Kenya (Stanchart) has partnered with Sanlam Investments East Africa Ltd (Sanlam) and Mangosteen BCC Pte Ltd (Bambu) to launch SC Shilingi funds. This is a low-ticket money markets fund proposition for Standard Chartered Bank clientele. The 100% digital investment product available on the SC Mobile app allows clients to investment amounts of […]
Kenya: Firms Competing to Boost Digital Savings, Investments
Kenya has the lowest saving and investing rate at 14 per cent among the top economies in East Africa with Tanzania at 36 per cent and Uganda at 22 per cent The country has seen three firms launch digital savings and investment platforms since the start of 2022, giving banks a run for their money […]
StanChart eyes a share of Kenya’s rising e-commerce
Standard Chartered Plc #ticker:SCBK is set to enter the local e-commerce business through Solv, an India-based technology firm in which it invested in December 2020. The multinational’s local subsidiary, Standard Chartered Bank Kenya, is expected to be the financial partner of the platform which offers small businesses an online marketplace, credit, and support services. “Expansion […]
NSE faces uphill task wooing back and retaining investors
Whenever government-issued infrastructure bonds come up for auction, they spur investor participation owing to their good returns and tax-free nature. Investors at the NSE, however are less active until the Kenya general election takes place in August. PHOTO | FILE The EastAfrican has learnt that NSE’s desertion has also been compounded by shrinking household incomes […]
NSE faces uphill task wooing back and retaining investors
Whenever government-issued infrastructure bonds come up for auction, they spur investor participation owing to their good returns and tax-free nature. Investors at the NSE, however are less active until the Kenya general election takes place in August. PHOTO | FILE The EastAfrican has learnt that NSE’s desertion has also been compounded by shrinking household incomes […]
Absa takes on small lenders with cheap personal loans offer
Absa Bank Kenya #ticker:ABSA has joined small lenders to offer the cheapest personal loans, breaking ranks with other big banks that have continued to issue relatively expensive credit facilities. An Absa customer taking a Sh1 million, one-year personal unsecured loan today will incur a total credit cost of Sh71,807. That is the same as the […]