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Browsing: Banking in Kenya
- Family Bank is now working to get the necessary approvals from the Central Bank of Kenya (CBK) and the Capital Markets Authority (CMA) before the end of the year, now that it has the support of its shareholders.
- This process will make it easier for the bank’s shares to be listed on the NSE, which will allow for free trading and may draw in more investors.
- The move comes after a successful private placement, the results of which will be made public after the necessary legal steps are taken.
Family Bank shareholders have unanimously approved the bank’s plan to list on the Nairobi Securities Exchange (NSE) by way of introduction in 2026. The Kenyan bank can now list its existing shares without having to raise new capital, which will free up cash for current investors and make the market more visible.
This milestone was announced at an Extraordinary General Meeting …
- Banks paid KES38.50 in tax to the government for every KES100 in profit (TTR = 38.50 per cent)
- 8.09%: Proportion of all government tax receipts attributable to banks.
Kenya’s banking industry contributed a total of $1.5 billion (KES194.81 billion) in taxes to the National Treasury in the year ended 31 December 2024, according to the Total Tax Contribution of the Kenya Banking Sector – 2024 Report.
The report, released by the banking industry’s umbrella body, Kenya Bankers Association (KBA), in collaboration with advirsory firm PwC Kenya, reveals that the Total Tax Contribution (TTC) from 36 participating banks and microfinance institutions represented 8.09 per cent of all government tax receipts for the period, highlighting a significant reliance on a small pool of highly compliant taxpayers within the economy.
“The KES 194.81 billion TTC comprised KES100.12 billion in taxes borne, direct costs to the banks such as Corporate Tax, and KES94.69
… 
The top 10 banks in 2020 in Kenya accounted for 77.7 percent of industry assets, 80.7 percent of loans and 78.6 percent of deposits, with the proportions largely unchanged from their 2019 levels.
This is according to a new report by Kenya Bankers Association which reveals that over the same period, the bottom 10 banks accounted for 2.5 percent, 2.2 percent and 2.0 percent of industry assets, loans, and deposits, respectively.
During the period under review, banking sector total assets expanded in 2020 by 12.4 percent, ending the year at Sh5.4 trillion from Sh4.8 trillion in 2019, data from the Kenya Bankers Association has shown.
The 12.4 percent strong growth in assets, compared with 9.4 percent in 2019, was driven by a faster expansion in non-loan assets, mainly investments in government securities, which grew by 18.5 percent, compared to 6.7 percent growth in gross loans and advances.
Banque Misr, Egypt’s second-largest bank, has announced plans to enter the Kenyan market as it seeks lending deals in East Africa and serving Egyptian firms operating in the region.
To fund the Kenya expansion the state-run bank plans to borrow $250 million from international lenders this year. The Kenyan expansion will also coincide with planned entry into Somalia and Djibouti.
“We are in talks with two international institutions on loans with competitive interest rates,” said Mohamed Eletreby, Banque Misr chairman.
Mr Eletreby added that Banque Misr could enter Kenya through setting up branches or representative offices.
Also Read: Absa Kenya’s US$ 100 million kitty for women entrepreneurs
The bank has branches in the UAE and France, as well as units in Lebanon and Germany and representative offices in China, Russia, South Korea and Italy.
The Banque Misr announcement marks the latest declaration of interest by an Egyptian lender to enter …