Net Interest Income grew to Ksh 1.03 Billion representing 11% growth
Ksh 173 Million growth in non-funded income representing 53% growth
Interest on Government Securities grew by 119 Million representing 38% growth
Interest Expense dropped by 1% to 1.05 Billion
Total Operating Income grew by 22 % to reach 1.52 Billion
Operating Expenses declined by Ksh 102 Million representing a 7% drop year-on-year
Non-performing...
Absa Bank Kenya PLC has reported a Profit after Tax of Ksh6.3 billion for the half-year period ended June 30, 2022, registering a 13% growth as compared to a similar period last year.
The improved performance was achieved on the back of double-digit revenue growth driven by accelerated lending as the economy continued to recover from the negative impact of...
Co-operative Bank has published its results for the six months ended June 30. The bank saw its half-year net profit surge 55.7% to Ksh11.5 billion compared to Ksh7.4 billion in H1 2021.
Growth was driven by a spike in revenues. Interest income grew from Ksh25.9 billion in H1 2021 to Ksh28.5 billion in H1 2022.
Non-interest income also increased to Ksh13.3...
National Bank of Kenya (NBK) reported Ksh729 million profits after tax in H1 results compared to Ksh765 million over a similar period in 2021.
Operating income grew 13% while operating costs increased by 11% on the back of increased investments in strategic projects to enhance operational excellence and customer experience.
NBK Acting Managing Director Peter Kioko said that there was steady...
Electricity costs are undeniably a factor that affects the lives of people be it at an industrial or household level. Within the country, there has been a wide-ranging discussion on the electricity sector as to how to reduce the cost of power. With the just concluded elections and a new incoming government, there will be a lot at stake...
tandard Chartered Bank Kenya Limited today releases its results for the six-month period ended 30 June 2022.
Kariuki Ngari, Chief Executive Officer, said:
“We have delivered a strong set of results for the first half of the year with income up 10%. We’ve seen healthy business momentum driving top line growth with double-digit growth in net interest income and strong performance...
The Kenya Medical Supplies Authority (KEMSA) has invested more than Kshs 30 million to facilitate efficient service provision from the Kisumu regional supply chain centre, the Authority's CEO Terry Ramadhani has confirmed.
Speaking when she hosted Homa Bay County Governor-Elect Gladys Wanga in her office today, Ramadhani said the Authority is executing a three-pronged transformation strategy (KEMSA2.0) geared at enhancing...
Listed agribusiness firm Kakuzi PLC has posted a Kshs 494.7 million pretax profit in its half-year results announced today.
Buoyed by increased sales, particularly against the firm's strategic Avocado and Macadamia crops and steadily growing revenues from its market and product diversification efforts, Kakuzi has enjoyed a 60% rise in pretax profits.
Speaking when he confirmed the half-year results, Kakuzi Managing...
PwC Kenya in partnership with the Kenya Bankers Association (“KBA”) have today released the 2021 Total Tax Contribution (“TTC”) study of the Kenya Banking Sector. The TTC study was produced by PwC on behalf of KBA.
PwC’s TTC methodology discloses both the taxes that a company bears, such as corporate tax and Value Added Tax (“VAT”) that it is not able...
Samsung Electronics will be unpacking the latest range of foldable devices on 10th August 2022. The global event is set to announce the most radical technological innovation in the smartphone space as the company gears up for an even larger share of the smartphone market pie. The announcement was made by Samsung Electronics President Mr. T.M. Roh when he invited...
