Family Bank bucks industry trends to grow loan book
The Lender’s loan book grew by Kes10 billion to Kes94 billion in a period where industry wide loans to the private sector tumbled to 3.7 percent in July from 13.9 at the end of last year.
Ol school RnB is queen of Kisumu parties
It is clear that this show can fill a stadium and there goes what the entertainment scene has been asking of this market. Here’s a show that will pull even outsiders across East Africa to the shores of Lake Victoria.
After Kenya springboard, South Africa Private School advances to Ethiopia
This is the second major expansion in East Africa following the 2018 acquisition of Makini Group of Schools and establishment of Crawford International School in Kenya.
Bankers reveal common type of cons during fraud awareness week
Most cases of fraud are seemingly social engineering, stealing credentials and identities for Push Payment fraud, due to rising digital adoption.
Sheer size of KCB loan book supports jump in profits
The contribution by subsidiaries (excluding KCB Bank Kenya) improved during the period, closing at 36.6 percent in profit after tax
Absa Bank sees strong profit growth on cost containment
Absa Bank cost containment strategies helped reduce the lenders cost to income ratio to 37.8 percent with this improvement resulting in total revenue growth outpacing costs, aided by an improving rate environment.
Co-op keeps growth steady with pivot to state and peers
To deal with the high costs banks have either had to cut costs elsewhere or target faster revenue growth in charging higher interest on customer loans
Equity Bank cuts bad-loan insurance on promise of lower rates
The impact of high interest rates continued to be felt in the banking sector with Equity Bank facing higher costs on deposits while loans advanced to customers shrunk on declined demand.
Central Bank of Kenya threatens jail term on cyber rumours of a bank run
Cyber crime laws in Kenya confers a fine of not more than Kes5 million or a ten-year jail term for those convicted for knowingly publishing information that is false in print, broadcast, data or over a computer system
Mobile money profits slowdown on defaults
The decline in profits come at a time the lenders have stepped up the volume of their loans and the ticket size of disbursement.