The dim performance is attributed to an increase in loan loss provisions which surged by 76% in what the lender says is sufficient to cover future potential credit losses.
The Group has not received any dividends from portfolio companies where the Group holds minority stakes in the six-month period ending 30 September 2020 as these portfolio companies have elected…
Carbacid Investment has announced a profit before tax of Kes 427 million for the year ended July 31, 2020, marking a 13 percent increase from the Kes 377 million posted…
The profit dip has however trimmed the bank’s earnings per share to Kes.11.13 from Kes.16.15 last year.
Cooperative Bank booked a 905 increase in loan loss provision from Kes. 2.1 billion in 2019 to Kes. 4 billion.
ABSA has painted a level of uncertainty in its outlook relating to the COVID-19 pandemic where it has highlighted that it is high and unprecedented, and its impact on markets and…
Equity’s asset base has expanded to Kes.933.9 billion with loans and advances to customers climbing by 30 per cent to Kes.453.9 billion.
Shareholders’ equity grew 12% from KShs. 121.2 billion to KShs. 135.9.1 billion. This was driven by the growth in earnings over the 12-month period to September 2020.
Ndegwa indicates the company remains in discussion with the Central Bank of Kenya (CBK) on the review of free cash transfers below Kes.1000 beyond December 312.
The board noted that the environment remains challenging due to the uncertainty of the COVID-19 related impacts as well as the extent and speed of the economic recovery post pandemic
The earnings per share in nation media group recorded a loss of kes 1.90 from a profit of kes 2.20 in the period under discussion.
East African Cables thus recorded a decrease in the overall expenses by 12% in the period ended 30th June 2020.
This led to a 58% decrease in revenue booked in six months period ending 30th June 2020
The company forecasts that the 2020 results will be significantly negatively impacted because of the projected suppressed air travel demand as it will remain at less than 50% of 2019…
Absa says it has restructured Kes.57 billion worth of customer loans representing 28 percent of its advances to customers as cushioning during the pandemic.
Bamburi Cement Plc has posted a 13% decline in activity for the first half of 2020 at Kes16.2billion which as compared to the Kes18.7 billion the company posted in a…
NCBA board has held back the declaration of an interim dividend for the period in line with its cash preservation stance.
The reduced profit was largely the result of increased provisions, reflecting the prudent approach adopted by DTB in the midst of the prevailing higher credit risk environment following the COVID-19…
The performance of Sanlam Kenya in the first six months is attributed to the economic hardship facing the country due to COVID-19 which has seen most companies’ record losses in…
Property revaluation also widened the losses of Kes 929 million due to the depressed property market which has been characterized by low occupancy levels and rental yields.
Despite the very wet conditions experienced in the first half of the year Kakuzi’s arable operations have done well.
The total operating income grew by 17.6 per cent to Sh 4.2 billion during this period compared to Sh 3.6 billion last year.
The Group increased its portfolio credit provision 15-fold from Kes. 500 million to Kes.7.7 billion increasing the Group’s NPL coverage from 64% to 73%.
Stanbic Bank will not pay out an interim dividend from its half year earnings with its earnings per share (EPS) having declined to Kes.6.46 from Kes.10.28 in a similar period…
The bank says a six percent growth in net loans and advances to Kes 272 billion and a 19 percent growth in customer deposits to Kes 384.6 billion during the…
KCB’s earning per share (EPS) has also dropped to Kes.4.72 in the period from Kes.8.30 last year, pushing the lender to halt payment of interim dividends to its shareholders this…
The company states that despite the depressed market prices which have continued to pose a risk to the business performance, the management of the firm will continue to focus on…
Shareholders’ funds which were at Kes 31.9 billion in the period ending 31st December 2019, also increased by 3% as at the period ending 30th June 2020, to Kes 33.1…
East African Breweries Limited (EABL) recorded a 9% decline in net sales for the financial year ended 30 June 2020, as first half growth of 10% was offset by a…
Pan African housing development financier, Shelter Afrique signalled a full recovery as it reported its 2019 earnings Tuesday. The Company reduced its operating loss to KSh 59 million (USD 0.59M) in…
The Group is pursuing a sales-led development model and is currently constructing 1,442 residential units across its three mixed-use developments
Going forward, the company has adopted various measures to mitigate its impact to the business and also continues to focus on achieving profitable growth.
The directors of the company have not issued a dividend recommendation for the period ending 31st Dec 2019.
The company’s balance sheet remained on an expansionary curve with net loans and advances to customers hitting Kes.203 billion while customer deposits rose by 6.6 percent in the period to…
The Group increased its loan loss provision tenfold to Kshs. 3 billion from Kshs. 300 million the previous year leading to a decline of profit after tax by 14% from…
Cargo tonnage increased from 64,238 tons to 68,264 tons, representing a 6.3 percent growth. Operating costs surged 12.4 percent to Kes 129.1 billion from Kes114.8 billion.
Total non-interest income grew to Kes4.9 billion from Kes4.1 billion while total operating income grew to Kes12.5 billion from Kes11.1 billion whilethe gross Non Performing Loans (NPLs/bad loans) stood at…
The Group’s balance sheet remained strong, growing 31% from Kes725.7 billion to Kes.947.1 billion, well within range of the Kes.1 trillion target by the end of 2022. Customer deposits rose…
The Group’s fundamentals remained strong in the first quarter of the year with overall positive volume increases, ending the quarter with a total assets base at Kes509.6billion.
Stanbic Bank restructured KSh 2.3 billion of SME loans and saw SMEs get a three-month loan holiday. This was particularly impactful as SMEs have been hardest hit by the COVID-19…
Safaricom’s board has recommended a Kes.1.40 dividend pay out to shareholders up from Kes.1.25 last year from an earnings per share (EPS) of Kes.1.84.
Nation Media Group has announced a payment of a bonus dividend which will be issued on a ratio of 1 share for every 10 held by investors.
The international insurance business contributed 19 percent of the Group’s gross earned premium, thereby boosting profitably to the Group.
In 2018 year the lender had posted a loss of Kes598.2 million, even as it slowed its loans and advances to customers. Operating expenses dropped by Kes726 million or 17.1…
The net interest income grew by 16.3 per cent to KES. 5 Billion compared to KES. 4.3 Billion realized in the same period last year with income from loans and…
The Directors have recommended the payment of a first and final dividend for the year 2019 of Kes. 0.08 per ordinary share and will be paid within sixty (60) days…
The lender’s total operating income grew by 59 per cent to Ksh.33.7 billion from Ksh.21.2 billion posted in the previous year. The bank also realised a Ksh.4.1 billion windfall from…
The Bank costs were well managed at Kshs17.3 billion reflecting a 1% increase year on year largely because of spend discipline and cost saves initiatives. The cost saves initiatives included…
The Group continued to maintain an agile balance sheet with a liquidity of 52.1%, a loan deposit ratio of 75.9% and a core capital to risk weighted asset ratio of…
The Bank’s Chief Executive said it was too early to assess the impact of the coronavirus epidemic on its business. StanChart Kenya said that if the crisis extends beyond 90…
In a statement accompanying financial results, Co-op Bank Group MD Dr. Gideon Muriuki said the bank has continued to leverage on successful penetration banking services in the country while reviewing…