Staff Writer | Business Insights Africa Magazine | Page 110

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Ruaka is Nairobi’s costliest satellite real estate

Staff Writer - November 16, 2020

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Majid Al Futtaim Launches Initiative to Support Seven Care Homes in...

Staff Writer - November 16, 2020

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Winner announced for AfDB “African Utility of the Future” Competition

Staff Writer - November 14, 2020

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KICC is Kenya’s top business travel destination

Staff Writer - November 13, 2020

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National Bank posts Sh87Mn Q32020 profits

Staff Writer - November 13, 2020

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Stabex International enters LPG market in Kenya, Uganda

Staff Writer - November 13, 2020

Feature

Samsung Galaxy S20 FE Receives Nomination For Best Phone Of...

Staff Writer - November 12, 2020

Feature

Prime Bank launches SimbaPay – International Money Transfer Service

Staff Writer - November 9, 2020

Feature

Infotrak Statement on The CountyTrak Index

Staff Writer - November 4, 2020

Gadgets

Why foreign investments are important for Africa’s economic growth

Staff Writer - November 4, 2020

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From geeky tech to popular payment method: Kaspersky Lab finds one-in-ten...

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.

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HF Q1 profits rise to Kes 327 Mn

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Small Businesses Embrace Social— But Could be Missing a Trick in...