KCB Ups Base Lending Rate to 15.6%
KCB Bank Kenya has increased its base lending rate for loans denominated in Kenyan Shillings from 14.7% to 15.6% per annum. KCB borrowers will see the adjusted rate applied starting May 27th, 2024 for new loan facilities, and July 1st, 2024 for existing facilities. “We wish to advise you that the bank has reviewed its […]
Standard Chartered Kenya Q1 2024 Profits Climb to Ksh 5.6 Billion
Standard Chartered Bank Kenya has reported a KES 5.6 billion profit in Q1 2024, surging by 39.5% year-on-year from KES 4 billion recorded in Q1 2023. Gross Non-Performing Loans (NPLs), on the other hand, declined significantly by 26.9%, dropping to KES 16.5 billion. This positive trend indicates a healthier loan portfolio and is further bolstered […]
HF Group Q1 2024 Profit Up 76% to Ksh 159 Million
HF Group has recorded a significant increase in profit in Q1 2024, reaching Ksh 159 million, reflecting a remarkable 76% jump compared to Ksh 90 million in the same period last year. A key driver of HF’s strong Q1 performance is the growth in total interest income. This figure reached Ksh 1.18 billion in 2024, […]
DTB Uganda Bids Farewell to MD Varghese Thambi
Diamond Trust Bank Uganda has bid farewell to Varghese Thambi, its former Managing Director, concluding his 17-year tenure with the institution. In the farewell event held on May 21st, the Deputy Governor of the Bank of Uganda, Michael Atingi-Ego, praised Thambi’s exceptional leadership, highlighting Thambi’s ability to navigate DTB Uganda through turbulent economic periods, including […]
Equity Group Partners With UNHCR And World Food Programme To Transform Refugees Lives
Equity Group has joined forces with the World Food Programme (WFP) and the United Nations High Commission for Refugees (UNHCR), to champion sustainable development in Africa. This collaborative effort will involve implementing projects aimed at tackling challenges faced by refugees. Equity has been leading the effort to promote financial inclusion and social integration for refugees […]
NCBA Grows Assets to Sh 694 Billion in Q1’2024
NCBA Bank Kenya witnessed a 10.5% rise in total assets in Q1 2024, jumping from the recorded Sh 628.83 Bn in Q1 2023 to Sh 694.87 bn. This was reinforced by a Profit after Tax increase of 4.65%, reaching Ksh 5.30 billion compared to Ksh 5.07 billion in the same period last year. Customer loans climbed […]
KCB Customer Loans Hit Sh 1.02 Trillion in Q1 2024
KCB Q1 2024 loan portfolio grew 9.54%, with customer loans hitting Sh 1.02 trillion from the 928.82 billion recorded in Q1 2023. KCB’s loan portfolio has been on a remarkably consistent upward climb since 2019. Since then, the bank has witnessed impressive growth rates exceeding 7% in every Q1, with Q1 2020 seeing an impressive […]
A Guide to the Equity Bank Salary Advance Loan
The Equity Bank Salary Advance is a financial solution tailored for salaried employees in Kenya. It provides quick access to funds to address urgent needs, with repayments conveniently spread over a period of up to 12 months. Here’s everything you need to know about salary-based loans in Kenya, focusing on Equity Bank Salary Advance loans. […]
Stanbic Bank Kenya Partners with Orion Innovation for Digital Transformation
Stanbic Bank Kenya has announced a significant partnership with Orion Innovation, a leading global firm in digital transformation and product development services, to upgrade their core banking system. This is in an effort to provide an unparalleled banking experience for Stanbic Bank’s valued clients. Upon completion, clients can expect a faster, simpler, and more robust […]
UBA Celebrates 75 Years of Banking Excellence
The United Bank for Africa (UBA) is celebrating 75 years of shaping the financial landscape across Africa and the world. The milestone was commemorated at a global press conference, highlighting UBA’s remarkable journey from its Nigerian roots to becoming a leading pan-African bank with a global presence. Oliver Alawuba, Group Managing Director/CEO, UBA Plc, addressed […]