Banks have posted the lowest 11-month pre-tax profit in eight years, pointing to the massive disruption of Covid-19 to the sector that has enjoyed a history of strong growth in earnings. Latest data from the Central Bank of Kenya (CBK) shows that the pre-tax earnings in the period ended November 2020 declined by 28.2 percent […]
Kenyans defaulted bank loans worth Ksh73 billion in the 10 months to December 2020, data from the Central Bank of Kenya (CBK) has shown. As of March 2020, the total value of loans defaulted was Ksh351.73 billion, but the amount has increased to Ksh423 billion or 14.1 percent of the total Ksh3 trillion loan book. […]
Standard Chartered Bank Kenya #ticker:SCBK has been named the best overall bank in the country, according to the Kenya Bankers Association 2020 Customer Service Survey. The survey had over 15,000 respondents, including 455 persons living with a disability, and covered all the 47 counties. The bank also emerged overall best in Responsiveness and Digital Experience […]
Borrowers defaulted on Sh73.05 billion bank loans in 10 months to December alone, highlighting the gravity of the Covid-19 induced economic hardship that triggered massive layoffs and pay cuts. New Central Bank of Kenya (CBK) data shows that the value of loans defaulted hit Sh423 billion or 14.1 per cent of the total Sh3 trillion […]
President Uhuru Kenyatta leads Parliamentary Leadership in launching the Kiswahili and Bilingual versions of the National Assembly Standing Orders on November 12, 2020 President Uhuru Kenyatta has appointed Christopher Kirigua as the Director-General of the newly formed department for Public-Private Partnerships (PPP). The Head of State is reported to have held consultative meetings at State […]
Top banks in Kenya have raised a red flag over an expected significant drop in net earnings of USD 11 mln for the year 2020, due to the rise of mobile money. The Central bank’s latest data shows that Kenyan banks USD 11.55 million worth of card payment business to mobile telephone operators between March […]
An ATM booth. Most customers in Kenya opted to use mobile money over debit or credit cards in the wake of the pandemic. PHOTO | FILE | NMG Top banks in Kenya have raised a red flag over an expected significant drop in net earnings for the year 2020. They cite deteriorating economic conditions and […]
Top banks in Kenya have raised a red flag over an expected significant drop in net earnings for the year 2020. They cite deteriorating economic conditions and the Covid-19 containment measures, which have seen the entire banking industry lose over Ksh1.2 billion ($11 million) worth of revenues from card payments to telcos mobile payment platforms […]
NSE trading floor. FILE PHOTO | NMG A record number of profit warnings by commercial banks has left their shareholders at risk of missing dividends worth over Sh33 billion after the lenders were forced to cut or suspend the payments to conserve cash in the wake of the Covid-19 crisis. An unprecedented six of the […]
NSE trading floor. FILE PHOTO | NMG A record number of profit warnings by commercial banks has left their shareholders at risk of missing dividends worth over Sh33 billion after the lenders were forced to cut or suspend the payments to conserve cash in the wake of the Covid-19 crisis. An unprecedented six of the […]
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