09/01/2020
Four banks delay half-year reports
The bank’s primary regulator is still in the process of reviewing the AFS and same would be released to the market upon receipt of the said approval.
Retail Banking
08/31/2020
Access renames Moi-linked bank after Sh1.4bn buyout
Top owners of the 36-year-old Kenyan bank with 28 branches were companies owned by close associates of the late Moi, including Joshua Kulei, Simeon Nyachae and the former Vice President George Saitoti.
08/31/2020
Top banks set aside Sh31bn for loan defaults
The provisions for bad loans cut the lenders’ net earnings by a third to Sh32.5 billion, making it the dominant factor in determining their profitability following the pandemic, overshadowing growth in interest income and fees on transactions.
08/30/2020
Worst six months for banks as profit drops by 30 per cent
KCB, the country’s largest bank by asset size, relinquished its pole position as the most profitable lender after its pretax profit declined by 40 per cent to Sh7.6 billion.
08/28/2020
Ecobank Group’s Pan-African Banking Sandbox is Live
The Sandbox is a major milestone for the Ecobank Group on it’s Open Banking strategy and it will accelerate partnership with Fintechs and other Partners across Africa
08/28/2020
Richard Branson’s Virgin Cash is shutting down its SA bank card
Virgin Cash beforehand closed down an area insurance coverage enterprise, after its life and short-term insurance coverage providing failed to realize traction.
08/28/2020
Ecobank connects 34 African countries with a unified cash management system
As the largest pan-African bank, Ecobank is on a mission to drive the economic development and the financial integration of businesses and individuals across Africa.
08/28/2020
FUGAZ; Nigerian banks considered too big to fail
Why the biggest banks in Nigeria are too big to fail.
08/27/2020
Ecobank Group wins the Award for Innovation in Financial Services from African Banker
The African Banker’s judging process sought to recognise the African banks that have demonstrated original and practical uses of technology to provide customer convenience
08/27/2020
Access Bank; Women Financiers - big winners at this year’s African Banker Awards
The Awards are considered the Oscars of the African banking community and given the impartial selection and judging process are the most respected in the field
08/27/2020
Nigerians shine at African Bankers Awards
The big winners this year were Nigerian-based group Access Bank and also women in the banking and finance sector.
08/27/2020
Standard Chartered reports a reduced half year net profit of Ksh. 3.2B
The company has also put in place a support scheme for individuals and SMEs including extension periods and loan repayment holidays who are affected by the COVID-19 pandemic.
08/26/2020
Jamii Bora renamed, gets new CEO after acquisition by Co-operative Bank
Kingdom Bank will now trade as a subsidiary of Co-op Bank, with its brand also donning the green colours that are synonymous with the Nairobi Securities Exchange–listed lender.
08/26/2020
Standard Chartered half-year profit falls to Ksh.3.2 billion
Standard Chartered loan-loss buffers meanwhile rose four-fold to Ksh.1.6 billion from Ksh.379 million last year with the lender following an industry wide conservative trend of high provisions in the face of adversities arising from COVID-19.
08/26/2020
Standard Bank acquires 35% stake in South African Fintech TradeSafe
TradeSafe Escrow received an undisclosed amount of funding in return for 35% stake
08/25/2020
Ecobank Group announces 2020 Winners of Fintech Challenge
All 10 finalists were officially inducted into the Ecobank Fintech Fellowship programme to explore commercial partnerships with the pan-African banking giant
08/25/2020
Ecobank Ghana : Group announces 2020 Winners of Fintech Challenge All 10 finalists were officially inducted into the Fintech Fellowship programme
This year’s Finalists made it through an extremely competitive pool of over 600 applicants across Africa, Europe, North America and Asia.
08/25/2020
Absa Group interim results highlight resilience of its business
While the negative impact of the crisis on Absa’s earnings is clear, the interim results also highlight the resilience of the business.
08/24/2020
SA bank profit slumps
The latest financial statement of Africa’s biggest bank by assets show that had it not been for the elevated impairment provisions in its local personal and business banking division, it would have better ridden out the Covid-19 wave as its operatio
08/24/2020
Access Bank begins disbursement of loans to grow Nigerian health sector
Earlier in the month, Access Bank’s Group Managing Director, Herbert Wigwe, had reassured the public of the bank’s commitment to do everything in its power to address the needs of the Nation in these uncertain times.