Equity Bank has notified the NSE, Capital Markets Authority and CBK of its decision to reorganize its finance function both at the Group level as well as the Kenyan subsidiary. The Board reached this decision following transitions that have taken place at the top level management of this function within the Group. Releasing the new
Standard Chartered Kenya has announced a pre-tax profit of KShs 2.7 billion for the period ended 31 March 2013. Total income remained flat at KShs 5.4 billion with loans and advances up by 22% to KShs 117.3 billion. Financial Highlights: • Net interest income grew by 2% to KShs 3.7 billion driven by strong growth
Visa in Kenya announced the launch of Visa Personal Payments (VPP) in collaboration with Equity Bank, East Africa’s largest commercial bank by customer base. Visa Personal Payments is a convenient, cost-effective and secure way for consumers to send funds directly to recipients with Visa cards, both domestically and internationally. Equity Bank is the first bank
The Central Bank of Kenya says that generally, the banking sector was sound and stable and recorded improved performance in 2012 as indicated by Total net assets which increased by 15.3 percent from Ksh. 2.02 trillion in December 2011 to Ksh. 2.33 trillion in December 2012, with the growth being supported by the increase in
Equity Bank Group’s profits after tax jumped 22 percent to Kshs 3.21 billion from Kshs 2.63 billion posted within the same period last year. Despite a challenging business environment characterized by uncertainty from the recent general elections and falling interest rates, prudent cost and risk management saw Equity Bank’s total income rise by 13 percent
National Bank of Kenya has launched an Islamic banking window as it seeks to expand its business portfolio into the retail and corporate segments. The window, called ‘National Amanah’, is targeted at retail, SME and corporate clients offering banking products and services in compliance with Islamic shariah. Though based on Shariah compliance the products and
Google has teamed up with Equity Bank, the largest bank in East Africa, to launch BebaPay, a payment card that makes it easier and more convenient to pay for bus travel in Kenya. People travelling on key Nairobi bus routes such as Riruta, Karen and Jogoo Road will be able to pre-load money onto their
evriPay, the African based merchant account provider, announced that it’s eCommerce services are now available to online merchants in Kenya. evriPay will allow Kenyan online merchants to accept Visa and MasterCard payments from anywhere in the world on their websites. Every transaction will require 3D Secure authentication and then also be vetted by the CyberSource Fraud Management
AFB, a consumer finance company headquartered in Mauritius, has today opened a new office in Nairobi, Kenya, in a Ksh250 million capital investment. This development brings the number of afb’s offices across the African continent to four, with other offices operational in Lusaka, Accra and Cape Town. Speaking in Nairobi, afb’s Chief Executive Officer Karl
I&M Bank has announced a partnership with MasterCard that will see the introduction of the first ever MasterCard branded multi-currency Prepaid travel cards in Sub-Saharan Africa. The I&M MasterCard multi-currency Prepaid cards will enable cardholders to carry three currencies, namely: U.S. Dollars, Sterling Pounds and Euros on a single card, while at the same time
