NCBA Group Records Ksh 15.1 Billion Profit After Tax in Q3 2024
NCBA Group PLC has reported a profit after tax of Ksh 15.1 billion for the third quarter of 2024, a 3.0% increase year-on-year. The profit growth was driven by a 22% increase in interest income to Ksh 57.43 billion, growth in non-interest income to Ksh 21.82 billion, and an uptick in total operating income to […]
KCB Group Records 49% Growth in Net Profit to KSh 45.8 Billion in Q3 2024
KCB Group PLC has reported a KSh 45.8 billion net profit after tax for the first nine months of 2024, a 49% increase from the KSh 30.7 billion recorded during the same period last year. This growth was fueled by a 22% surge in revenues, which rose to KSh 142.9 billion. The increase was driven […]
I&M Group Profits before Tax Rise by 24% in Q3 2024
I&M Group PLC has reported a 24% increase in Profit Before Tax for the third quarter of 2024, climbing to Ksh 14.1 billion from Ksh 11.4 billion in the same period last year. Operating revenue rose by 20%, driving an equivalent 24% rise in operating profit to KES 18.9 billion. This growth was further boosted […]
African Development Bank Launches the CAW Facility to Bridge Climate Finance Gap in Vulnerable Regions
The African Development Bank Group (AfDB) has unveiled the Climate Action Window (CAW) Technical Assistance Facility in a move to address the climate finance gap in Africa. The initiative, launched at COP29 in Baku, Azerbaijan, aims to bolster climate project development across 37 low-income African nations. The Climate Action Window (CAW) Technical Assistance Facility, backed […]
Absa Bank Kenya Net Profit Rises to Ksh 14.7 Billion in Q3 2024
Absa Bank Kenya PLC has reported a net profit of Ksh 14.7 billion for the third quarter ending September 30, 2024, reflecting a 20% increase compared to the same period last year. This strong performance has been attributed to the Bank’s focus on innovation, customer-centric solutions, and financial inclusion, which fueled a 16% growth in […]
Co-op Bank Net Profit Rises 4.4% to Sh19.2 Billion in Q3 2024
Co-operative Bank of Kenya has announced a 4.4% increase in its net profit for the nine months ending September 2024. The Co-op Bank after-tax profit rose to Ksh19.21 billion, up from Ksh18.39 billion in the previous year. Commenting on the results, Gideon Muriuki, Co-op Bank’s managing director, attributed the strong performance to the group’s emphasis […]
Top 5 Christmas Loan Apps to Cover Your Festive Expenses
The Christmas season is upon us, a time for joy, family, and sometimes, a strain on your wallet. Unexpected expenses can pop up, and if you need a little extra cash to cover Christmas essentials, several mobile loan apps are available at your fingertips. This guide explores five popular loan apps to help you find […]
Here Is Why KRA Plans to Access Your M-Pesa Balance
The Kenya Revenue Authority (KRA) is stepping up its scrutiny of M-Pesa transactions and bank accounts, introducing measures that will give the tax authority unprecedented access to personal financial data. Financial coach Good Joseph explains that this new directive aims to widen the tax base by tracking detailed information on how Kenyans are moving, receiving, […]
Should You Invest Ksh 1 Million in a Money Market Fund or a SACCO?
When it comes to financial investments in Kenya, two popular options are drawing attention from investors: Money Market Funds (MMFs) and Savings and Credit Cooperative Organizations (SACCOs). Both offer appealing returns, but which is better for an investor looking to maximize dividends on a Ksh 1 million investment?. Should You Invest Ksh 1 Million in […]
Safaricom Expands M-Pesa Global Service to Ethiopia
Kenyans can now send money to Ethiopia through Safaricom’s M-Pesa platform following the telecommunications giant’s expansion of its M-Pesa Global service into the country. This move, which links Safaricom Kenya and its Ethiopian subsidiary, marks a significant step in increasing mobile money use and financial inclusion in the East African region. M-Pesa Global is a […]