Safaricom’s share price ( NSE:SCOM ) hit a new record Thursday, earning investors Sh78.13 billion in a week and lifting the Nairobi Securities Exchange (NSE) to a 39-month high. The stock closed at a volume-weighted average of Sh43 on the Nairobi bourse Thursday compared to Sh41.05 on Tuesday last week. The gains sent the telco’s […]
A market in Kinshasa. DR Congo, with a population of about 85 million people, has attracted the attention of many regional banks. PHOTO | AFP KCB Group kicked off a plan to enter the Democratic Republic of Congo through the acquisition of an existing lender in the next four months. This is part of the […]
KCB Group CEO Joshua Oigara (left), Chairman Andrew Kairu (centre) and the CFO Lawrence Kimathi during the bank’s half-year results announcement at the Nairobi Serena Hotel on August 19, 2021. PHOTO | DIANA NGILA | NMG KCB Group doubled its net profit for the first six months to June to Sh15.3 billion as its subsidiary […]
Banking experts have hailed the return to profitability of Kingdom and National Bank as a win to consolidation. In analysis of the recently released half year results by local lender, experts at GCR Ratings attributed the good performance of the two lenders to sound management efficiency and risk spread. ‘’The acquisition by superior institution played […]
(Bloomberg) — Equity Group Holdings Plc, Kenya’s biggest bank by market value, failed to declare an interim dividend despite almost doubling net income for the first half of the year. The board of the bank with operations in six African nations is still committed to returning 30% to 50% of income in dividends this year, […]
A Stanbic Bank branch on Kimathi Street, Nairobi. FILE PHOTO | NMG Stanbic Holdings is the first bank to reinstate interim dividends after its net profit surged 37 percent in the half year ended June to Sh3.5 billion. The company declared a payout of Sh1.7 per share or a total of Sh672 million to be […]
KCB & Equity Group Managing Directors, Joshua Oigara and Dr. James Mwangi The KCB Group is now the second local bank to reach the Ksh.1 trillion mark in total assets after the Equity Group. The lender crossed the threshold in the quarter ending in June 2021 where its total assets peaked on the right side […]
KCB Group CEO and MD Joshua Oigara KCB group Chairperson Andrew Kairu KCB and Group CFO Lawrence Kimathi during the release of KCB Half year 2021 financial results in Nairobi on August 19, 2021 Kenya Commercial Bank’s investment in National Bank of Kenya is paying back after the subsidiary posted a Sh717.6 million net profit […]
James Mwangi, Equity Group Holdings managing director and CEO, with head of financial and regulatory reporting Mary Nteere during the announcement of the regional bank’s half-year results in Nairobi on August 17. Picture: File Equity Bank was the highest earner having made a profit of Ksh8.8 billion ($80.73 million), bringing its total net profit to […]
Kenya’s biggest bank by assets is in talks to acquire a lender in the Democratic Republic of Congo, the vast mineral-endowed central African country. “We’re engaging with two institutions today that are in Congo,” KCB Group Ltd. Chief Executive Officer Joshua Oigara said in an interview on Thursday. The bank will settle on a single […]
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