NAIROBI, May 6 (Reuters) – Standard Chartered Bank Kenya has adjusted the terms of more than 8 billion shillings ($75.4 million) of its loans to individuals and businesses – about 6% of the total – to help them weather the impact of COVID-19, it said on Wednesday. Lenders in the East African nation have so […]
At least 14 companies have issued profit warnings this year, with most blaming the economic fallout from the Covid-19 pandemic for their weaker earnings. Britam Holdings , Absa Bank Kenya , East African Breweries Limited ( EABL ), Kenya Power , East African Cables , Kenya Orchards , Longhorn Publishers , Nairobi Business Ventures , […]
At least 14 companies have issued profit warnings this year, with most blaming the economic fallout from the Covid-19 pandemic for their weaker earnings. Britam Holdings , Absa Bank Kenya , East African Breweries Limited ( EABL ), Kenya Power , East African Cables , Kenya Orchards , Longhorn Publishers , Nairobi Business Ventures , […]
At least 14 companies have issued profit warnings this year, with most blaming the economic fallout from the Covid-19 pandemic for their weaker earnings. FILE PHOTO | NMG At least 14 companies have issued profit warnings this year, with most blaming the economic fallout from the Covid-19 pandemic for their weaker earnings. Britam Holdings , […]
The Central Bank of Kenya, in partnership with Huawei, Safaricom, KCB Bank, and Standard Chartered Bank Kenya, recently held the Afro-Asia Fintech Festival, Nairobi Online City Event. The three-day event themed “People and Talent-Harnessing: Collaboration in Pursuit of Resilience and Growth Post Covid-19” was organized by the Monetary Authority of Singapore. The event aimed at […]
At least 14 companies have issued profit warnings this year, with most blaming the economic fallout from the Covid-19 pandemic for their weaker earnings. FILE PHOTO | NMG At least 14 companies have issued profit warnings this year, with most blaming the economic fallout from the Covid-19 pandemic for their weaker earnings. Britam Holdings , […]
As the second wave of Covid-19 continues to hit the country, and with businesses striving to remain afloat, the Standard Chartered Bank has become the first lender to issue a profit warning for the financial year ending December 31, 2020. The lender is expected to release the full-year financial results during the first quarter of […]
NAIROBI, Kenya, Dec 9-Standard Chartered Bank has issued a profit warning for the financial year ending December 31, 2020. In a statement, the bank’s board chair Patrick Obath said the forecast has been influenced by economic challenges experienced in the country owing to the outbreak of the disease. “It has been a challenging year with […]
Standard Chartered Bank Kenya has announced plans to lay off 200 employees in a restructuring move. According to a brief sent to the Banking Insurance & Finance Union, the targeted staffers are those in the management level and the unionisable staff. The bank attributes the retrenchment to a digital transformation strategy that started in 2016 […]
The banking sector is seemingly going through difficult economic times caused by the Covid-19 pandemic, forcing most to engage in cost-cutting measures. Among the most common cost-cutting measures include closure of some branches and retrenchment of employees, or even reducing their salaries. SBM Bank (formerly Fidelity Commercial Bank Limited) has become the latest in the […]
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