Equity Bank Picks Moses Okoth as Acting MD
Equity Bank has named Mr. Moses Okoth Nyabanda, currently the Group Chief Finance & Strategy Execution Officer, as the Interim Managing Director of Equity Bank Kenya, pending the Central Bank of Kenya’s approval. This decision comes in response to Mr. Gerald Warui’s early retirement request, which the bank has accepted. The bank expressed its deep […]
iPesa and Lendplus: Which Loan App Works Best for You?
iPesa and Lendplus stand out among the top loan apps in Kenya. This is primarily due to their rapid approval processes and the ease with which users can access emergency funds through M-Pesa. Deciding between these two options can be challenging, as both apps offer appealing and user-friendly features. This article will explore the key […]
Co-op Bank Profits After Tax Hit Ksh 13 Billion in First Half of 2024
Co-op Bank kicked off 2024 with a strong performance, reporting a profit after tax of Ksh 13 billion in H1 2024. This marks a 7 percent growth compared to the Ksh 12.1 billion recorded in the same period of 2023. According to the Co-op Bank H1 results announced today, revenue increased by 10.9 percent to […]
Equity Group H1 2024 Profits Jump to Ksh 29.6 Billion
Equity Group achieved a profit of Ksh 29.6 billion in the first half of 2024, marking an impressive 12% year-on-year increase. Notably, 50.2% of this profit was contributed by its regional subsidiaries. This strong performance was underpinned by robust capital reserves, with a core capital ratio of 15.8% and a total capital ratio of 18.4%, […]
Stanbic Holdings Half-Year Profits Hit Ksh 7.2 Billion
Stanbic Holdings reported a profit of Ksh 7.2 billion for the first half of 2024, reflecting a 2.3% growth compared to the corresponding period in 2023. The bank’s Chief Executive Officer, Joshua Oigara, emphasized that these results highlighted the bank’s sustained strength in the face of a tough operating environment. “Despite a broadly positive economic […]
New Series of Banknotes Released by CBK
Kenyans should expect to see a change in the fifty to one thousand shillings banknotes after the Central Bank of Kenya (CBK) announced that it will be rolling out a new series of them. “The Bank has made some changes to the denominations of one hundred shillings (Sh100), two hundred shillings (Sh200), five hundred shillings […]
Borrowing Costs Set to Decrease Following CBK Rate Slash
Borrowers can now look forward to some financial relief as the interest rates on bank loans are set to decrease. This follows a decision by the Central Bank’s Monetary Policy Committee (MPC) to lower the Central Bank Rate (CBR) from 13% to 12.75%. The MPC’s decision was influenced by a more optimistic global economic outlook […]
NCBA Bank Appoints Georgina Mukami Odhiambo as Head of IT Retail Banking
NCBA Bank has appointed Georgina Mukami Odhiambo as the new Head of IT Retail Banking. Georgina Mukami, who holds an Information Technology degree from Jomo Kenyatta University of Agriculture and Technology (JKUAT), brings a wealth of expertise to her role. Georgina has more than 15 years of extensive experience in the banking sector, with her […]
Egyptian Lender CIB Launches New Mombasa Branch
Commercial International Bank of Kenya (CIB) has launched a new branch in Mombasa, increasing its total branches in Kenya to seven. This new branch is strategically located at the Ground Floor of the Oriental Building on Nkrumah Road and offers premier services in cash and liquidity management, capital markets, foreign exchange, and derivatives. Chairman Tom […]
Absa Opens Second Branch in Eldoret
Absa Bank has inaugurated a new branch in Rupa’s Mall, Eldoret, marking its 85th branch in Kenya. This new branch, the second in Eldoret, will provide a full range of services, including transactional accounts, savings accounts, deposit accounts, Shari’ah-compliant solutions, and financial advisory services. It aims to serve the growing consumer and business markets in […]