Managers of Wealth Africa

New bank for South Africa around the corner

The Old Mutual Bank is one of four banks launching in South Africa.

Prime Bank posts Sh4.4 bn net profit on higher income

The reduced provisioning has been attributed to a steady non-performing loans ratio despite a notable pickup in gross NPLs.

NCBA net profit rises 56pc to Sh21 billion

The higher net interest income served to offset a four percent dip in non-funded income, which was attributable to a slowdown in foreign exchange income.

Bank Zero keeps disrupting commercial and business banking in South Africa

The pricing is clear: both businesses and individuals do not pay a monthly fee, nor do they pay for debit orders, electronic payments, card purchases, or bulk file payments.

South African banks caught in UK’s sweeping auto finance probe

Shares of Investec rose as much as 3.8% on Wednesday in London.

Nigerian lender Access Bank to buy National Bank of Kenya from KBC Group

The value of potential deal, which is subject to regulatory approvals from both countries’ central banks and the COMESA Competition Commission, among others, was not revealed.

Afreximbank’s Kanayo Awani receives African Diaspora Advisory Board Global Award

As part of its Diaspora strategy, the Bank has launched the Afreximbank Africa Diaspora Center, in partnership with the Africa Center in New York.

Bank profits reach yet another historic high

According to the figures, the banks’ profits last year were powered by net interest income which rose to P6.4 billion or about 27 percent higher than the level in 2022.

Absa raises dividend as profit hits Sh16.4 billion

The higher payout to shareholders is on the back of improved profitability

Absa Group posts marginal rise in annual profit

The lender posted headline earnings of 20.9 billion rand

Co-op Bank to open 15 new Kenya branches in 2024

The bank, which has an operation in South Sudan, has intensified its expansion locally where it sees untapped growth opportunities.

Standard Bank adds 670,000 customers in South Africa – with households under strain

Headline earnings in South Africa grew by 3% to R16.8 billion.

South African lender Absa flags above-target loan losses in 2024

South Africa's prime lending rate of 11.75% at end-2023 was 125 basis points (bps) higher than a year earlier and 475 bps above the bottom of the interest rate cycle from mid-2020 to late 2021.

Absa shares slide 5% as weaker SA market hits profits

Credit impairments increased 13% to R15.5 billion, with the bank reporting higher impairments in its SA business.

Absa Bank Kenya Plc Q32023 Interim Report

Absa Bank Kenya Plc is a financial services outfit listed on the Nairobi Securities Exchange (NSE).

StanChart raises dividend payout as net profit hits Sh13.8bn

Operating expenses, however, grew 20 percent

Ghana's Banking sector profitability indicates rebound from DDEP losses BOG

The BoG said the growth outturns of key income lines contributed to the improved profit performance of the banks in 2023.

Capitec disrupts business banking by charging the same as personal banking

“We understand the challenges businesses face through traditional banking,” said Capitec CEO Gerrie Fourie.

Moody’s gives seven SA banks a ratings thumbs-up

The upgrade shows banks have a stable outlook, despite operating headwinds.

Government launching new bank in South Africa this year

The bank plans to commence operations in July 2024, offering savings and investment products.

Retail Banking