NCBA Profits Reach Ksh 9.8 bn in First Half of 2024
NCBA Group reported a post-tax profit of Ksh 9.8 billion for the first half of 2024, a 5.0 percent growth compared to the first six months of 2023. This performance was achieved despite a tough economic environment, characterized by nationwide floods, a weakening shilling, and protests led by the Gen Z. “We are pleased to […]
KCB Bank Profits Rise by 86 percent for H1 2024
KCB Bank reported a profit of KSh 29.9 billion for the first half of 2024, reflecting an 86% rise from the KSh 16.1 billion recorded during the first six months of 2023. This growth occurred despite a difficult economic environment marked by nationwide protests by Gen Z, a weakening shilling, and widespread flooding. “We delivered […]
KCB Bank Emphasizes Commitment to Climate Action and Development in 2023 Sustainability Report
The 2023 KCB Sustainability Report has highlighted KCB’s commitment to climate action and sustainable development, with a substantial investment in environmental initiatives and social programs from the past year. Paul Russo, CEO of KCB, stated, “We are increasing focus on sustainability and environmental responsibility. We are proud to announce the release of the first assured report, […]
African Development Bank Grants $5.94 Million to the Comoros
The African Development Bank Group’s Board of Directors has sanctioned a $5.94 million grant for the Comoros, aimed at advancing financial governance reforms and improving the nation’s electricity infrastructure. Approved on July 19, 2024, the funds will be allocated to the Energy Sector Reform and Financial Governance Support Programme. This initiative falls under the Transition […]
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 […]
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 […]
Ecobank South Sudan Introduces Premier Banking Club
Ecobank South Sudan has rolled out its Premier Banking Club, a new offering that promises an exceptional banking experience with a wide range of exclusive benefits for account holders. With Ecobank Premier Banking, clients are assured of top-quality service, including personalized, location-flexible, high-touch interactions, and seamless digital access. A relationship manager will be appointed 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 […]