Central Bank of Kenya Reports Financial Loss in 2023/2024
The Central Bank of Kenya (CBK) has revealed a net deficit of KSh 24.3 billion in its Annual Report and Financial Statements for the fiscal year 2023/2024, marking a sharp contrast to the surplus of KSh 150.5 billion recorded in the previous financial year. The deficit was primarily driven by an unrealized exchange loss of […]
Why Ecobank Group CEO Jeremy Awori was recognized among 100 Most Influential Africans
Jeremy Awori, the CEO of Ecobank, has been named one of the 100 Most Influential Africans by New African Magazine, a testament to his visionary leadership and Ecobank’s significant contributions to economic growth, financial inclusion, and innovation across the African continent. As the head of Ecobank Transnational Incorporated (ETI), Awori leads one of Africa’s most […]
Get to Know Bhartesh Shah, One of the Top CEOs in Kenya
Bhartesh Shah, CEO of SBM Bank Kenya, was recently recognized in Business Monthly’s Top 25 CEOs of 2025. As a transformative leader with over two decades of experience in the financial sector, Shah has consistently demonstrated a unique ability to merge strategic thinking with a customer-centered approach. Under his leadership, SBM Bank Kenya has embraced […]
Monetary Policy Committee Reduces Central Bank Rate to 11.25%
The Monetary Policy Committee (MPC) of the Central Bank of Kenya (CBK) has cut the Central Bank Rate (CBR) from 12% to 11.25% following its meeting on December 5, 2024. The decision aims to support economic activity, maintain exchange rate stability, and anchor inflation expectations amidst evolving global and domestic economic conditions. The MPC noted […]
24 Banks in Kenya at Risk of Closure Amid Proposed Core Capital Increase
24 banks in Kenya are on the verge of a total shutdown that will affect more than 7,000 employees if the proposed increment of core capital from 1 billion to 10 billion shillings over three years is implemented. This issue was raised during a session where the Kenya Bankers Association (KBA) made submissions on the […]
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 […]