Global Markets Slide as Turkish Currency Drops

Thursday, September 18, 2025

Home Tags Turkish Lira

Main Story

Global Markets Slide as Turkish Currency Drops

Special Correspondent - August 13, 2018

By CNBC Asian markets slid on Monday as investor sentiment took a knock amid the renewed slump in the Turkish lira. The Nikkei 225 slid 1.98...

MOST POPULAR

Stanbic Holdings Plc (“the Company”) has posted a Profit After Tax (PAT) of KES 6.5 billion and delivered a return on equity of 17.4% in the half year ended 30th June 2025. Stanbic Holdings PLC’s performance for the period was underpinned by resilient non-interest revenue generation and lower credit impairment charges, which helped cushion the impact of a decline in net interest income. The listed lender, with operations in Kenya and South Sudan, noted that while year-on-year organic growth remained subdued, its continued focus on operational excellence and robust risk management enhanced its fortitude and strengthened its long-term growth outlook. During the period, Stanbic recorded a 9% increase in active clients, driven by the continued optimization of its products and digital platforms. This growth, coupled with targeted client support initiatives, strengthened the Bank’s credit position, contributing to a 4% expansion in the balance sheet from the December 2024 closing position. Speaking on the half-year performance, Dr Joshua Oigara stated, ‘’ The Kenyan economy remained stable amidst persistent headwinds. Nonetheless, some pressures persist as evidenced by sluggish private sector credit uptake, high fiscal deficits and geopolitical risks. Our focus in this period was largely on supporting our clients navigate shifting market conditions, while fortifying our growth through robust risk management, capital strength and well managed liquidity levels. We believe that our business will continue to demonstrate resilience and keep momentum even as the market continues to post recovery.’ During the reporting period, all four business lines demonstrated robustness and strategic execution. Corporate and Investment Banking played a key role in facilitating a new USD 1.5 billion Eurobond issuance, Tender Offer for the Republic of Kenya, reinforcing our leadership in sovereign advisory. Business and Commercial Banking continued to support the real economy, disbursing KES 16.4 billion in loans to SMEs across various sectors. Personal and Private Banking achieved a fourfold increase in scheme disbursements, reflecting growing client demand and effective distribution. We also made significant strides in digital banking, with the enhancement of our Omni Channel mobile app, introducing key features that drove active users beyond 100,000 mark. The Insurance and Asset Management business maintained positive momentum, with assets under management surpassing KES 4 billion (in nine months since launch), underscoring the strength of our diversified financial services offering. Notably, Stanbic Bank, the Company’s main subsidiary, was ranked among the top 5 banks in SME lending by the Kenya Banker’s Association, with the lender allocating capital to impact sectors, including agriculture, manufacturing, and trade, delivering both returns and national development outcomes in the first half of the year. The Bank was also awarded the 2nd runners up on the Best Bank to Borrow from and Best Bank in Mortgage Finance at the Think Business Awards. Commenting on the performance, Dennis Musau, Chief Financial and Value Officer said, ‘’ Our H1 2025 results signal steady progress, anchored in a stable macroeconomic climate and recovering private sector credit growth. Commercial lending to the private sector grew by 2.0% in May, up from a contraction of 2.9% in January—signalling a rebound in demand alongside easing interest rates. We continue to refine our strategic focus, leveraging our core strengths to unlock long-term value and deliver sustainable returns for our shareholders in an evolving market landscape.’’ The Bank recorded an NPL ratio of 9.5%, which is below industry levels at 17.6%, and representative of a healthy asset book. ‘’ Credit quality is a priority for us, which is why we have adopted a proactive, data-led approach to managing risk. We have strengthened our credit assessment frameworks and developed sector-specific models that enable us to better anticipate and support clients during volatile cycles," Musau added. The Bank also reduced its lending rates by 180bps cumulatively in response to Kenya’s easing monetary policy stance. Financial Performance Summary: During the first half of 2025, Stanbic Holdings Plc delivered a robust performance amidst a dynamic operating environment, with key highlights as follows: Profit after tax declined by 9% to KES 6.5 billion, largely impacted by lower net interest income and elevated operating expenses, primarily due to prior year base effects. Trading revenue contracted by 7%, reflecting the impact of narrower margins in the current period. Customer numbers grew by 9%, driven by effective market positioning and continued investment in customer experience. Other non-interest revenue excluding trading revenue rose by 9%, supported by higher customer transaction volumes and a more diverse suite of product offerings. Operating expenses increased by 16%, attributable to 2024 base effects, driven by the appreciation of the Kenya Shilling as well as investments in long-term strategic initiatives. The cost-to-income ratio stood at 48.1%, reflecting a contraction in total income alongside elevated cost levels. Credit impairment charges decreased by 26%, underlining enhanced risk management practices and improved credit portfolio quality. Customer deposits closed at KES 330 billion, a 4% increase from December 2024, while loans and advances stood at KES 233 billion, representing a 1% growth over the same period. The NPL ratio remained at 9.5%, as the Bank continues to prioritize asset quality and proactive credit management. The Bank recorded a Return on Equity (ROE) of 17.37%, supported by active capital and liquidity management across the portfolio. Strengthening Impact and Delivering Value – H1 2025 Highlights Stanbic Bank continued to advance its sustainability agenda during the first half of 2025, directing funding and capacity-building efforts across four key impact areas: enterprise growth and job creation, infrastructure development and a just energy transition, climate change mitigation and adaptation, and financial inclusion. Key sustainability achievements include: Issuance of KES 4.5 billion towards green infrastructure projects Lending of KES 1.2 billion to support climate-smart agriculture Disbursement of KES 900 million under the affordable housing program enabling over 200 new homeowners Facilitation of KES 94.8 billion in trade loans, driving economic activity Planted 30k trees as part of climate change mitigation Through the Stanbic Kenya Foundation, the Group deepened its social impact via strategic partnerships with GIZ, the Bill and Melinda Gates Foundation, American Tower Corporation, and Microsoft Corporation. These collaborations supported job creation, financial inclusion, and youth empowerment. Notably, the Foundation disbursed KES 24 million in catalytic loans to MSMEs and delivered financial literacy and entrepreneurship training to over 33,000 women entrepreneurs across Kenya. In recognition of this performance and commitment to shareholder returns, the Group has recommended an interim dividend of KES 3.80 per share, marking a 106.5% increase year-on-year.

STANBIC POSTS PROFIT AFTER TAX (PAT) OF KES 6.5 BILLION, RAMPS...

August 16, 2025

EQUITY BANK AND MASTERCARD SIGN A TEN-YEAR AGREEMENT TO SCALE CONSUMERS’...

September 19, 2023

NIC Group to merge with CBA Group

December 6, 2018

SBM Bank in Partnership to Deliver Global Business for Kenyan Women

October 9, 2024

HOT NEWS

News

KCB bank profits up Ksh 40.8B

Gadgets

Majid Al Futtaim Retail Launches Retail Graduate Programme to foster growth...

News

EQUITY GROUP HOLDINGS REGISTERS STRONG RECOVERY

Lifestyle

SAFARICOM BOOSTS COAST REGION NETWORK WITH NEW NETWORK INFRASTRUCTURES

EDITOR PICKS

With just one month to go before the African Mining Week (AMW) conference, global mining stakeholders are preparing for industry-shaping discussions, deal signings and new partnerships at Africa’s premier gathering for mining stakeholders. Scheduled for October 1–3, 2025, in Cape Town, AMW takes place under the theme From Extraction to Beneficiation: Unlocking Africa’s Mineral Wealth, uniting African stakeholders with global partners to enhance investment flows across the mining value chain. AMW 2025 has confirmed the participation of six African mining ministers including Martin Gama Abucha, Minister of Mining for South Sudan; Winston Chitando, Minister of Mines and Mining Development for Zimbabwe; Kenneth Zikhale Reeves Ng'oma, Minister of Mining for Malawi; Teddy Lwamba, Minister of Hydraulic Resources and Electricity for the Democratic Republic of Congo (DRC); Emmanuel Kofi Buah, Ghana’s Minister of Lands and Natural Resources; and Karim Badawi, Egypt’s Minister of Petroleum and Mineral Resources. The ministers will engage in the Ministerial Forum, exclusive fireside chats and country spotlights, where they are expected to showcase policies aimed at attracting investments. The event will also feature high-level regulatory authorities including Moses Micheal Engadu, Secretary General of the African Union’s Africa Minerals Strategy Group and Khadidja Hassane Abdoulaye, Secretary of State for Petroleum, Mines and Geology for Chad. Sponsored by various stakeholders from across the industry, including the Africa Finance Corporation (AFC), Rand Refinery, Sidley Austin, OilDynamics, Moore Global and Power Trake, AMW will unite global investors with African projects. The event will feature investors such as the AFC, International Development Corporation of South Africa, African Infrastructure Investment Managers, World Mining Investment and Standard Bank, showcasing financing tools and strategies driving capital flows into Africa’s mining and infrastructure projects. In support of Africa’s mineral production increase agenda, AMW 2025 will feature leading mineral producers, showcasing industry milestones, ongoing projects and strategies for resource development and monetization. Participating producers include Implats, Valterra Platinum, Ivanhoe Mines, Pensana, B2Gold, First Quantum Minerals, Goldfields and Typhoon Greenfield Development. In addition, downstream players such as Rand Refinery – one of the world’s largest integrated metal refining facilities – Isondo Precious Metals, Toyota SA and others will highlight value-addition strategies in support of Africa’s beneficiation and local processing drive. AMW will also spotlight the energy–mining nexus, featuring insights from Francesco La Camera, Secretary General, International Renewable Energy Agency, and representatives from renewables firms JUWI, Solink and energy services company OilDynamics. The conference will run in parallel with African Energy Week: Invest in African Energies, creating a platform for collaboration between energy and mining stakeholders. AMW 2025’s three-day agenda will also feature contributions from research institutions, academia and legal experts, including S&P Global Insights, Columbia Business School, Chatham House, Sidley Austin, Moore Global, Minexx, and Project Blue, who are expected to shape discussions on policy, market trends and the future of African mining. The event will also feature an exhibition space, showcasing technologies, services and expertise from across the mining value chain. With one month to go, stakeholders have time to secure their place at Africa’s premier mining event. Sponsors, exhibitors and delegates can learn more by contacting sales@energycapitalpower.com.

One Month to Go Until African Mining Week (AMW) 2025 –...

September 17, 2025

Canon Miraisha expands legacy in Kenya with Maono Africa to empower...

September 17, 2025

Azentio Software (www.Azentio.com) , a leading technology enabler in the BFSI space, announced the launch of Azentio Loan Origination, its next-generation product that redefines how financial institutions scale credit operations across retail, SME, and corporate segments, and supports both conventional and Islamic financing. According to Deloitte (http://apo-opa.co/46lKYvA), today’s lending market demands speed, personalization, and easy digital access. Azentio Loan Origination enables banks and financial institutions to onboard customers quickly, make accurate credit decisions, and provide a seamless borrower experience, all while staying compliant with evolving regulations. Reimagining speed and personalization in lending With Azentio Loan Origination, lenders can launch new products up to 70% faster. Built-in compliance for each region shortens time-to-market from months to weeks. This enables lenders to avoid delays, accelerate innovation, and identify new growth opportunities. Smarter credit decisions for precision and efficiency Azentio’s new loan origination offering streamlines every step of credit decisioning with automation at its core. Its policy-driven framework seamlessly integrates with KYC, AML, and credit bureau systems to reduce approval delays and minimize manual errors. Pre-configured integrations and dynamic workflows make onboarding faster and simpler, helping banks lower drop-offs and improve decision accuracy. With compliance built in for both conventional and Islamic finance, lenders can grow without regulatory risk. Future-ready architecture for scalable growth Azentio Loan Origination is cloud-ready, scalable, and integrates easily with existing technology stacks, enabling financial institutions to expand into new regions. Its open framework ensures resilience, adapts to regulatory change, and supports new capabilities such as advanced analytics and alternative data without causing significant disruptions. “Banks are under pressure to deliver seamless digital experiences while navigating tougher regulatory landscapes,” said Guru L, Senior Vice President, Lending – Product Management, Azentio. “Azentio Loan Origination brings speed, intelligence, and compliance together in a single offering, enabling financial institutions to innovate and scale. With this launch, we are equipping the industry not just to keep pace with change, but to lead it.”

Azentio reimagines speed and personalization for SME and corporate lenders with...

September 17, 2025

Third Africa Islamic Finance Forum Confirmed for Nigeria March 2018

March 23, 2018

EABL signs lease deal for office space in upcoming Garden City...

March 14, 2018

Facebook Introduces Messenger Rooms and More ways to connect

April 27, 2020

Tag: Turkish Lira

Global Markets Slide as Turkish Currency Drops

MOST POPULAR

STANBIC POSTS PROFIT AFTER TAX (PAT) OF KES 6.5 BILLION, RAMPS...

EQUITY BANK AND MASTERCARD SIGN A TEN-YEAR AGREEMENT TO SCALE CONSUMERS’...

NIC Group to merge with CBA Group

SBM Bank in Partnership to Deliver Global Business for Kenyan Women

HOT NEWS

KCB bank profits up Ksh 40.8B

Majid Al Futtaim Retail Launches Retail Graduate Programme to foster growth...

EQUITY GROUP HOLDINGS REGISTERS STRONG RECOVERY

SAFARICOM BOOSTS COAST REGION NETWORK WITH NEW NETWORK INFRASTRUCTURES

EDITOR PICKS

One Month to Go Until African Mining Week (AMW) 2025 –...

Canon Miraisha expands legacy in Kenya with Maono Africa to empower...

Azentio reimagines speed and personalization for SME and corporate lenders with...

POPULAR POSTS

Third Africa Islamic Finance Forum Confirmed for Nigeria March 2018

EABL signs lease deal for office space in upcoming Garden City...

Facebook Introduces Messenger Rooms and More ways to connect

POPULAR CATEGORY