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.
Banks are changing corner shops business model
Across the country over 260,000 shops work as financial services agents with half of them garbed in monopolistic green of the giant telco Safaricom.
EAC rescues Equity Bank from Kenya profit decline
The decline of loans advanced to customers from Kes459 billion to Kes423 billion means the bank made money from charging higher interest rates, which could fuel defaults.
Search for deposits in provincial towns draws banks outside Nairobi
Customers will have access to transactional accounts, savings accounts, deposit accounts, Shari’ah-compliant solutions, financial advisory services, and more.
Kamiti calls bypass multibillion banking firewalls
Even as Kenyan banks build strong IT systems to prevent digital fraud, criminals are still getting access from inside men and customers who hand over passwords to a stranger over the telephone, forget to report a stolen ID or transact in public
Absa finds sweet spot for savings and insurance for small businesses
The combination of savings with insurance is likely to draw small business deposits to Absa Bank putting the lender on a market lead to secure cheap savings at a time when deposits in the banking sector are very expensive.
Kenya shilling wrestles the dollar down in H1
Banks are using profits to splurge on the shareholders with dividends attracting buyers and paying huge executive bonuses.
Kenyan regulator helps banks recapture digital lending market
Kenya’s regulator ordered informal lenders to seek licenses in March 2022 where it received over 400 applications from several players. CBK initially granted approvals to only 51 firms and took almost a year to approve only 19 more.
Africa should build its own financial architecture from ground up
In a generation an educated youthful population who number two for every child and pensioner delivers an economic boom since more people are economically active than dependents, and this builds up enough savings to reduce the cost of credit.
Family Bank builds up 24 percent profit jump on stability
The bank said it made strategic investment in secure and stable investment avenues and effective asset management even as the economy continued to grapple with the adverse effects of high inflation.
Depositors shrink Equity Bank’s Q1 margins by a quarter
Equity Bank's interest expenses on customer deposits almost doubled from Kes5 billion to Kes9.5 billion signaling the challenge facing lenders as depositors become more aware of the value of their money.
