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Absa bank Q1 profits rise to Kes 6 Bn

Staff Writer - May 30, 2025

Absa Bank Kenya has reported a 3.6 percent growth in profit after tax for the three-month period ended March riding on cost...

“Women make good leaders because they are versatile and adaptive to...

October 23, 2019

Naro Moru Quarry Worker wins 3-Bedroom Apartment in Ongoing Lipa Na...

February 3, 2020

General Electric appoints Brenda Mbathi as East Africa CEO

April 2, 2019

EQUITY GROUP HOLDINGS AND JOHN DEERE SIGN AGREEMENT TO INCREASE ACCESS...

September 26, 2023

LIFESTYLE NEWS

The increase in the operating income was more than the rise in operating expenses to Sh1.07 billion from Sh905. 2 million, helping HF to more than double its profit in the period where the sector’s earnings slowed. The performance defied an environment of falling interest rates on loans in line with sustained decline in Central Bank Rate. Returns on government paper have also been falling even as foreign exchange income also softened on the back of reduced volatility on the shillings’ exchange rate. HF booked an 87.6 percent rise in income from securities to Sh595.97 million from Sh317.9 million while income from loans and advances grew to Sh1.18 billion from Sh1.16 billion. Operating expenses were driven by a rise in staff costs to Sh511.22 million from Sh437.21 million, even as the provisioning for loan losses eased to Sh110.43 million from Sh109.1 million. HF’s total deposits rose by 16 percent to Sh50.11 billion from Sh43.75 billion, which the lender attributed to increased market confidence after the recent rights issue. The balance sheet grew by 18 percent to Sh73.4 billion.

News

HF Q1 profits rise to Kes 327 Mn

Staff Writer - May 30, 2025

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HF Group's net profit for the first three months of trading ended March 2025 rose 2.2 times to Sh327.93 million on the...

Equity Group posted Sh14.8 billion net profit for the first quarter ended March 2025, marking a 3.86 percent decline on the back of falling non-interest income. The net earnings retreated from Sh15.39 billion posted in the preceding similar quarter and came in the period net profit from subsidiaries in Rwanda, Uganda, South Sudan and Democratic Republic of Congo posted reduced earnings. The group’s non-interest income fell by 11.8 percent to Sh19.61 billion even as net interest income rose by 2.6 percent to Sh28.57 billion.

Equity Q1 profits drop to Kes 14.8 Bn

May 30, 2025

Absa bank Q1 profits rise to Kes 6 Bn

May 30, 2025

1.5 Billion Reasons for Crypto in Africa – Quidax Chief Executive...

May 28, 2025

Ecobank named Best Bank in Africa 2025 in Global Finance Awards

May 28, 2025

UBA Kenya has appointed George O. Otieno as the new Chairman of the Board. The announcement follows regulatory approval and comes as the bank marks 15 years of operations in the country. The bank said Mr. Otieno’s appointment is a key step in strengthening its strategic growth in Kenya and the region. “His appointment marks a significant milestone in the bank’s journey,” the bank said in a statement. Mr. Otieno takes the helm at a time when UBA Kenya is pushing to expand its footprint and enhance its presence as a bank of choice for SMEs, corporates, government infrastructure development, and individuals. The bank said Mr. Otieno brings valuable experience in shaping policies and building local and regional partnerships.

George Otieno appointed chairman of UBA Kenya Board

May 27, 2025

HOUSE DESIGN

Gadgets

Safaricom launches Lipa Na M-PESA Cash Back Promotion

Gadgets

Open University of Kenya will boost access to higher education

Main Story

Microfinance could help African cities solve housing crisis – experts

TECH AND GADGETS

Executive Corner

Huawei fine-tuning product portfolio to boost its global business prospects

Staff Writer - April 27, 2021

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Global technology firm Huawei has embarked on a bold product and services review and enhancement programme as part of its business growth strategy to...

MKU to host international conference on entrepreneurial universities in Africa

October 7, 2021

Much awaited game changer for the African business community simplifies lengthy...

November 15, 2023

Gikomba Trader Wins First Apartment in M-PESA Promotion

July 7, 2018

The Women that Run Big Business in Africa

June 11, 2021

MAKE IT MODERN

Farming

SAFARICOM AND RIA MONEY TRANSFER TO POWER INTERNATIONAL MONEY TRANSFERS WITH...

Feature

Wealth Migrate: expert advice from Scott Picken on offshore investments

News

I&M Bank slashes lending rates by a further 2%

Gadgets

Prime opportunities in the energy sector that the incoming government could...

LATEST REVIEWS

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‘Made by Africa, Loved by the World’

Staff Writer - May 23, 2022

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As part of its Africa Day celebrations on 25 May, Meta (www.Facebook.com) today announced the return of its global campaign ‘Made by Africa, Loved by...

Dr. James Mwangi Recognized Among 50 Most Reputable Bank CEOs in...

September 28, 2021

“Today, as in the past, you are part of Africa’s transformation”...

September 16, 2024

PERFORMANCE TRAINING

Equity Bank Enters Ethiopia

Staff Writer - June 17, 2019

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The Bank has been given licence to begin operations in the country Equity Bank has set up a Commercial Representative Office in Addis Ababa, Ethiopia...

Madison Group, HFC Launch Multi-billion Home Ownership Project In Athi River

Staff Writer - February 21, 2023

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HF Group CEO Robert Kibaara and Madison Life MD Githua Ngaruiya during the partnership signing ceremony. Madison Life Assurance and HF Group’s banking subsidiary...

Kenya: Floods trigger death and massive displacement, threaten disease outbreaks

Special Correspondent - May 5, 2018

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Water sources have been contaminated and 33 health centres have been destroyed along with homes, crops, irrigation systems and farm equipment, and roads and...

Dr. James Mwangi, Equity Group Holdings Managing Director and CEO with Lord Jonathan Marland, Chair of the Commonwealth Enterprise and Investment Council (right) and Lord Hugo Swire, Deputy Chair of the Commonwealth Enterprise and Investment Council (left). Dr. Mwangi was conferred the Freedom of the City of London, a prestigious honor recognizing his exceptional work in promoting inclusivity and creating equitable communities. The award dates back to the 12th century and has been conferred upon only a select couple of hundred individuals like Nelson Mandela, Dwight D. Eisenhower, Benjamin Franklin, Winston Churchill, Margaret Thatcher, Lee Kuan Yew and Archbishop Desmond Tutu.

DR. JAMES MWANGI RECEIVES HONOUR OF THE FREEDOM OF THE CITY OF LONDON AWARD...

Staff Writer - April 16, 2025

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Dr James Mwangi has been conferred the Freedom of the City of London, one of the world’s oldest and most respected civic honours.

BANKS HEIGHTEN EFFORTS TO SENSITIZE CUSTOMERS ON SECURE BANKING

Staff Writer - July 27, 2021

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· The Campaign awareness dubbed ‘Kaa Chonjo’ seeks to enlighten the masses on online safety. The country has been facing an increase of cybercrime with...