Banking

Standard Chartered Bank scoops Best Consumer Digital Bank Award in Tanzania

by Salum Mohamed

September 18, 2019

Kenya appointed to head the interim Africa Pension Supervisors Forum

September 18, 2019

Equity bank joins top financial institutions to promote SME finance

September 18, 2019

Kenyan bank taps Japanese market in growth plan

September 10, 2019

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Get the latest news and analysis on the banking sector in East Africa. Coverage on the capital markets as they relate to Kenya, Uganda, Tanzania, Rwanda, Burundi, South Sudan and Ethiopia.

KCB Group is seeking to deepen its new women proposition, committing billions of shillings towards funding women owned and women run enterprises. The programme dubbed ‘Women Value Proposition’ has seen the bank disburse loans worth US$68.9 million.

How Kenyan bank is empowering women

September 9, 2019

KCB Group is seeking to deepen its new women proposition, committing billions of shillings towards funding women owned and women...

Tough times push Kenyan banks into acquisitions

September 7, 2019

Kenya’s banking industry has witnessed a myriad of changes in the last four years as lenders adjust to remain profitable...

AfDB warns Mozambique on inclusive development challenge

by FurtherAfrica

September 2, 2019

African Development Bank Vice President Mateus Magala told Lusa that Mozambique faces the challenge of putting natural resource gains at...

Kenya's HF Group Plc has expressed optimism of returning to profitability by the end of this financial year after registering significant performance improvement, cutting its losses by more than half a billion shillings. The mortgage lender recorded a half-year pre-tax loss of Ksh94.314 million, compared to a loss of Ksh642.74 million for the year ended 31 December 2018.The reduction was driven by aggressive collection strategies including the property sales campaign dubbed “Shika Nyumba na HF Reloaded.”

Kenya’s Housing Finance cuts losses by $50 million this year

September 2, 2019

Kenya's HF Group Plc has expressed optimism of returning to profitability by the end of this financial year after registering...

I&M Holdings has announced a 17 per cent after tax profit growth for its 2019 half year financial results bouyed by a strong non-interest income.The lender's net profit for the year to June 30 closed at Ksh4.5 billion compared to Ksh3.9 billion recorded in a coresponding period last year.Durng the period, the Group’s loan book expanded six per cent to close at Ksh172.1 billion up from Ksh162.8 billion for the similar period last year. I&M is a leading commercial bank headquartered in Kenya, with a growing regional presence currently extending to Mauritius, Tanzania and Rwanda.

I&M Holdings half-year profit jumps 17% to Ksh4.5Bn

August 28, 2019

Regional financial services group—I&M Holdings (plc) has announced a 17 per cent after tax profit growth for its 2019 half...

Ethiopia

Ethiopia loosens its grip on financial sector as US based Ethio Lease joins

by Kimani Chege

August 12, 2019

The National Bank of Ethiopia today granted the first financial services license to a foreign-owned company, Ethio Lease, as the Ethiopian Government...

Here is Africa’s best digital bank 2019

July 31, 2019

Kenya’s Equity Bank has been named Africa’s Best Digital Bank for 2019 at the Euromoney Awards for Excellence, validating its...

Standard Chartered banking on Tanzania’s digital market share

by Kawira Mutisya

July 18, 2019

Standard Chartered has launched Tanzania’s first Social Banking Solution. The launch comes as a move by the bank to meet...

Here is Africa’s most socially responsible bank

July 8, 2019

Kenya’s Equity Bank has been named as the most ‘Socially Responsible Bank in Africa’ at the most prestigious Africa’s banking...

The Central Bank of Kenya (CBK) has retained its benchmark lending rate at 9.0 per cent for the sixth straight time since bringing it down in July 30 2018, sparing borrowers higher cost of loans. The Monetary Policy Committee (MPC) which is CBK’s top decision making organ has pegged its decision on domestic macroeconomic stability, increased optimism on the economic growth prospects, and increased global uncertainties. The decision has also been based on Month-on-month overall inflation which remained relatively stable and within the target range in May and June 2019. The capping of interest rates however remains a concern.

Kenya’s listed banks resilient as return on equity rises to 19.2%