- Teachers represented by the Mwalimu National Sacco have eased Spire Bank capital woes following their recent conversion of deposits held in the lender into share capital.
- KNBS' Consumer Price Index (CPI) data has revealed the failure of the government backed maize flour subsidy as the cost of unga rose in the month of August.
- Kenyans have had no respite in the cost of basic household commodities as the rate of inflation rose to 8.5 per cent in August from 8.3 per cent in July.
- Underwriter Britam has seen its cost cutting initiatives payoff as its half-year profit jumps 77 per cent to Ksh.667.5 million from Ksh.376.3 million previously.
- Global ratings agency S&P has affirmed Kenya’s sovereign credit ratings at ‘B’ as both a long and short-term foreign and local currency debt issuer with a stable outlook.
- Underwriter Jubilee Holdings has retained interim dividends at 20 per cent of earnings of Ksh.1 per share despite posting a 24.4 per cent net profit drop to Ksh.3.4 billion.
- To adjust interest rates, commercial banks were required to put in place a risk-based pricing mechanism assigning different interest rates to different borrowers based on customers’ inherent risks.
- NCBA Group has become the first tier one bank to announce the payment of interim dividends to shareholders as its half-year profit to June rises to Ksh.7.8 billion.
- Diamond Trust Bank (DTB) has posted a 24 per cent rise in net profit through six months to Ksh.3.6 billion in June 2022 from Ksh.2.9 billion last year.
- National carrier Kenya Airways (KQ) has trimmed its half year loss to June by 14 per cent to Ksh.9.9 billion from Ksh.11.5 billion at the same time last year.
- Lender Equity Group is yet to lift interest rates on loans despite obtaining the nod to implement risk based credit pricing from the Central Bank of Kenya (CBK).
- Equity Group has posted a 35.4 per cent rise in net profit through the opening half of the year to Ksh.23.7 billion from Ksh.17.5 billion at the same stage last year.
- Kenya’s foreign interest costs rose by Ksh.14.5 billion to Ksh.120.8 billion in the concluded 2021-2022 fiscal year on the end of the debt service suspension initiative (DSSI).
- Approvals by the Central Bank of Kenya (CBK) allowing commercial banks to implement risk-based loan pricing is set to cushion banks from rising funding costs.
- Kakuzi has posted a 75 per cent rise in its half-year profit to June 2022 with earnings reaching Ksh.341.3 million from Ksh.194.6 million at the same stage last year.
- A rebound in taxes paid by companies helped lift the Kenya Revenue Authority (KRA) to an all-time record Ksh.1.9 trillion in exchequer revenue receipts.
- The departing Jubilee government administration is set to leave behind Ksh.504.7 billion in national government pending bills according to new National Treasury data.
- Kenya’s debt load closed the 2021-2022 fiscal year at Ksh.8.6 trillion with public debt having grown by 11.5 per cent year over year from Ksh.7.7 trillion in June 2021.