Browsing: Absa Bank kenya

• In 2023, a significant investor sell-off led to a $15.5 million (KSh4.2 billion) decline in the Kenya stock market.
• During the review period, Safaricom’s market valuation declined, attributed in part to prolonged and price-agnostic portfolio outflows by foreign investors in favor of dollar-denominated assets.
• Utility Umeme Limited recorded the highest valuation gains throughout 2023, registering an impressive 115.6 percent return.

Nairobi Securities Exchange-listed firms, including Safaricom PLC, British American Tobacco (BAT), and Cooperative Bank, emerged among the top counters experiencing the highest investor sell-off in 2023, a new trading report reveals.

Over the past year, a consistent trend of investor flight led to the Nairobi Securities Exchange (NSE) witnessing a drop of $15.5 million (KSh4.2 billion) in the value of shares traded on the bourse

The 2024 outlook report by AIB-AXYS Africa Investment indicates that despite some firms, such as Safaricom, recording improvements in share prices towards the end …

• Absa Bank Kenya partners with Visa to launch a domestic and cross-border remittance service
• The solution will allow seamless person-to-person money transfers and persons-to-businesses payments via the Visa Global network
• Absa debit and credit cardholders can transfer funds from their Visa Card accounts to any overseas or domestic Visa debit, credit, or prepaid cards 

Absa Bank Kenya has partnered with a global payments technology platform Visa to launch a domestic and cross-border remittance service.

The Absa Visa Send Money solution will allow seamless person-to-person money transfers and persons-to-businesses payments via the Visa Global network.

The solution will allow Absa debit and credit cardholders to transfer funds from their Visa Card accounts to any overseas or domestic Visa debit, credit, or prepaid cards via the Hello Money USSD and Absa mobile banking app.

According to the partners, Absa customers will only need to enter the beneficiary’s Visa card details or linked …

• ABSA Bank Kenya has a posted a 22 per cent rise in its profit after tax for the quarter ending in March 31, 2022 
• The bank attributed the performance to improving macroeconomic conditions compared to the same period last year
• The bank added that its investment in new businesses is bearing fruit with bancassurance, asset management and financial markets products contributing significantly to income growth 

Kenya’s Absa Bank has posted a 22 per cent rise in its Profit after Tax to hit KSh 3 billion for the quarter ending 31 March 2022.

In a statement seen by The Exchange Africa, the Kenyan lender said all its business units remained profitable, registering growth on crucial lines in the period.

During the period under review, total income grew by 12 per cent to KSh 9.9 billion, primarily driven by higher net interest income, which went up by 15 per cent year …

In a related story, Standard Chartered Bank has scooped the 2022 Best Trade Finance Provider in Kenya award for its trade innovation in product capabilities and stellar focus on client-centricity.

The bank was awarded for first-class services and products that aptly addressed key client challenges brought about by the pandemic.

The editorial review board of Global Finance selected the best trade finance providers based on entries from banks and other providers, as well as input from industry analysts, corporate executives, and technology experts. Criteria for choosing the winners included transaction volumes, global coverage, customer service, competitive pricing, and innovative technologies.…