NCBA Group Plc announced a net profit of KSh 5.5 billion for the first quarter of 2025, marking a 3% increase year-on-year from KSh 5.3 billion in Q1 2024. This growth was fueled by an 8% rise in operating income and a notable improvement in net interest margin (NIM) to 6.1%, which is the highest in recent years. Profit before tax (PBT) saw a 4.5% increase, reaching KSh 6.8 billion from KSh 6.5 billion in the comparable period. Despite the positive earnings, the group’s balance sheet contracted. Customer deposits decreased by 9.5% to KSh 496 billion, and total assets were…
Author: Muindi
Muindi
Experience working on communication and marketing departments and in the broadcast industry. Interested in sustainable development and international relations issues.
Family Bank Group reported a 15.4% year-on-year increase in net profit for the first quarter ended 31 March 2025, reaching KSh 1.05 billion—the first time the bank has surpassed the KSh 1 billion profit mark in a single quarter. Key Financial Performance Drivers Total interest income grew by 23%, from KSh 4.46 billion in Q1 2024 to KSh 5.48 billion. Net interest income surged by 34% to KSh 3.25 billion, driven by higher returns from government securities and an expanding loan book. Non-interest income increased by 44% to KSh 1.71 billion, supported by elevated fees and commissions on loans. However, forex trading income declined sharply by 71%, falling to KSh 93.6 million from KSh 327.5…
On Tuesday, May 20, 2025, Uganda’s parliament passed a controversial bill allowing military tribunals to try civilians, despite a January Supreme Court ruling banning such trials for lacking fairness and legal competence. The opposition, rights groups, and critics condemned the move as unconstitutional and a threat to democracy ahead of the 2026 elections. The law, in use for two decades, has been criticised by opposition leaders and Human Rights Watch for failing international judicial standards, using torture-extracted evidence, and targeting government critics. The military denies these claims. Opposition Slams New Law as Unconstitutional The new bill permits civilian trials in…
Absa Bank Uganda has appointed David Wandera as its new managing director, following regulatory approval from the Bank of Uganda. The appointment, effective May 5, 2025, marks a historic milestone as David becomes the first Ugandan to hold this position in the bank’s over 90-year history in the country. David Wandera is a seasoned banker with over 20 years of extensive experience in business leadership, financial management, strategy, and stakeholder engagement. Before this appointment, he served as executive director at Absa Bank Uganda, where he was responsible for driving operational efficiencies and leading the bank’s Financial Markets division. David is…
Kenya’s high-net-worth individuals (HNWIs) are recalibrating their property investment strategies, from lifestyle-driven purchases and offshore holdings to income-generating, domestic assets, in response to global economic uncertainty and local fiscal pressures. Strategic Shift: From Lifestyle to Liquidity The latest Knight Frank Wealth Report 2025 reveals a marked decline in foreign homeownership among Kenya’s wealthy. Only about 10% now hold property abroad, down from 14% in early 2023. HNWIs increasingly prioritise investments that offer liquidity and stable returns, such as real estate investment trusts (REITs), treasury bonds, and money market funds, over luxury or lifestyle properties. The share of wealth allocated to…
Remittance inflows to Kenya reached record highs in April 2025, underpinning current account stability and supporting the foreign exchange market. According to the Central Bank of Kenya, inflows in April 2025 totalled USD 422.9 million (KSh 63.4 billion), representing a 6.4% year-on-year increase from USD 397.3 million (KSh 59.6 billion) in April 2024. Cumulative remittance inflows for the 12 months to April 2025 rose by 12.1% to USD 4,997 million (KSh 749.6 billion), up from USD 4,457 million (KSh 668.6 billion) during the corresponding period in 2024. Year Month North America Europe Rest of World Total Remittances (USD ‘000) 2025 1 243,337.16 71,003.74 113,033.72 427,374.62 2025 2 215,577.36 70,853.91…