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 […]
KCB Bank Tanzania Posts TZS 26.1 Billion Profit After Tax for H1 2024
KCB Bank Tanzania profits hit TZS 26.1 billion in the first six months of 2024, up by 46 percent from the TZS 17.8 billion the Kenya banking subsidiary recorded at the beginning of the year. The bank impressively recorded pre-tax profits of TZS 38.7 billion (KES 1.89 billion). These profits were due to the high […]
I&M Bank Tanzania Posts TZS 5.1 Billion Profit after Tax for H1 2024
I&M Bank Tanzania recorded profits of TZS 5.1 billion in the first half of 2024, representing an impressive increase of 982% from TZS 0.5 billion at the beginning of 2024. The bank’s pre-tax profits saw a rise of 981%, reaching TZS 7.3 billion (Ksh 356 million). The Kenyan banking subsidiary further recorded an increase in […]
NCBA Waives Monthly Charges for Retail Bank Accounts
NCBA Group has discontinued the monthly account maintenance fees for all retail banking accounts, with both current and new clients no longer being subject to these charges from July 1, 2024. This policy change applies to a variety of account types, including consumer banking products such as salary accounts, Platinum Flexi, Platinum Pay as you […]
Equity Bank Opens Its Doors in Marigat Town
Equity Bank has opened a new branch in Marigat town, increasing its total number of branches across the nation to 215. This new branch will serve as a financial hub tailored to meet the specific needs of the Marigat community and its neighboring areas. Customers to the new branch will have access to a wide […]