Family Bank’s board has approved a final dividend of Ksh0.62 per share for the year ended December 2022, amounting to Ksh798 million. Shareholders’ funds grew by 3.3% to Ksh 16.1 billion. In the fiscal year, the bank recorded a Ksh 3.7 billion Profit Before Tax, a 12.2 % growth compared to Ksh 3.3 billion posted in 2021. The Group’s Profit After Tax for 2022 stood at Ksh 2.2 billion. The bank’s net interest income grew from KSh7.76 billion to KSh8.59 billion, while non-interest income at KSh3.35 billion from KSh3.03 billion. “In 2022, we focused on diversification of product offerings through the…
Author: Muindi
Muindi
Experience working on communication and marketing departments and in the broadcast industry. Interested in sustainable development and international relations issues.
Britam Holdings, a diversified financial services company, posted a KSh1.69 billion net profit for the fiscal year ending December 2022, an improvement from the KSh72 million recorded in 2021. “The improved performance is attributable to a growth in top-line revenue as well as operating efficiency and cost management initiatives,” said Britam. The Group reported gross earned premiums and fund management fees of KSh33.4 billion, a 2.7 per cent growth from KSh32.5 billion recorded in the previous financial year. “We are pleased with the growth trajectory of our business in Kenya and the region following our focus on improving customer experience…
Kenya has revised its growth rate for 2023, with the Central Bank worried about mounting headwinds and a slowdown in the agriculture sector. On Thursday, the Central Bank Governor, Dr Patrick Njoroge, expected the country’s economy to grow by 5.8% in 2023, down from earlier projections of 6.1%. “We have looked a little carefully at agriculture and the development in the sector in light of the weather conditions that have prevailed in January, February and the first half of March,” CBK Governor Dr Patrick Njoroge said Thursday during a virtual media briefing post-MPC. The Monetary Policy Committee raised its key…
The Kenya Reinsurance Corporation (Kenya Re) reported a 15 per cent increase in profit after tax of Ksh 3.6 billion for the 2022 fiscal year, up from Ksh 3.2 billion a year earlier. The profit was attributed to a 16 per cent increase in net premiums, which grew to Ksh 22.2 billion from Ksh 19 billion reported over the same period in 2021. “These results demonstrate our remarkable success in executing our five-year strategic plan, where we outperformed’ our expectations in all the core measures,” said Michael Mbeshi, Kenya Re Acting Managing Director. “We have significantly scaled our business via…
Kenya plans to scrap the Betting Control and Licensing Board (BCLB) and replace it with a National Lottery if proposals by the Presidential Taskforce are adopted. The draft National Gambling Policy, National Gambling Control Bill, and National Lottery Bill contain a proposal to scrap BCLB. In addition, a Gambling Regulatory Authority will take over from BCLB in the changes that will replace the Betting Lotteries and Gaming Act of 1966. https://twitter.com/MwangoCapital/status/1640220047024050177?s=20 “The sector has for decades been frowned upon as a space that encourages certain immoralities and is tainted with ethical and moral concerns. The proposed policy and legal framework…
Air France plans to add substantially more flights by June 2013, the airline said as it celebrates its fifth anniversary. “Air France has been here for five years, and despite hard times like the Covid-19 period, it is a clear sign that we are here to stay,” General Manager Marius van der Ham said. As of 12 June 2023, Jomo Kenyatta International Airport will receive non-stop service in both directions, with one daily flight to/from Paris-Charles de Gaulle from the current six flights a week. The flights will be operated by a Boeing 787-9. Air France resumed its flights to Kenya…