profit - Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya

Equity Group reports 32 per cent third quarter profit resulting to Kshs 54.1 Billion

Sacco ReviewNovember 3, 202503 mins

Equity Group Holdings Plc has reported a 32% rise in Profit after Tax to Kshs 54.1 billion for the third quarter of 2025, up from Kshs 40.9 billion, driven by diversified revenue growth, cost efficiency, and strong regional performance. The Group’s return on equity stood at 26.4%, with return on assets at 4.1%. Net interest…

Co-op Bank half-year net profit soars to Ksh13 billion

Sacco ReviewAugust 19, 2024August 19, 202405 mins

Co-operative Bank of Kenya’s (Co-op Bank) net profit grew 7 per cent to Ksh12.99 billion for the half-year ending June 2024, driven by higher interest and non-interest income. The lender’s net earnings increased from Ksh12.14 billion reported during the same period last year. This growth was driven by a 10.7 per cent rise in net…

NCBA records first quarter net profit up five per cent to KSh5.3 billion

Sacco ReviewMay 25, 202402 mins

NCBA Group PLC recorded a profit after tax of KSh5.3 billion in its first quarter of 2024 financial results, representing a 5 per cent increase compared to Ksh5.1 billion reported during a similar period last year. It posted an operating income of KSh16 billion and a decline in loan impairment charges of 30.9 per cent…

CIC profits increase by 818 per cent to KSh1.4 billion in 2023

Sacco ReviewMay 15, 202402 mins

CIC Insurance Group’s 2023 profit after tax increased by 818 per cent of Sh1.4 billion as a result to the improved investment income and growth in insurance revenue. “The business maintained a growth trajectory driven by the execution of our transformational initiatives focusing on customer experience, performance management, operational efficiency, digital transformation, research and innovation,…

I&M Group dividend up as profit jumps to KSh12.6 billion

Sacco ReviewMarch 26, 2024March 26, 202402 mins

I&M Group bags net profit growth by 12.6 per cent from the financial year ending December 2023 amounting to KSh12.6 billion. The firm attributes the 15 per cent growth in its profits to an increase in its operating income. The Group has also increased dividends for the third straight year to KSh2.55 a share amounting…

KCB shareholders get zero dividends as profit declines

Sacco ReviewMarch 22, 2024March 27, 202402 mins

Kenya’s KCB Group posted a 15 per cent drop in pretax profit in 2023 to KSh48.5. Therefore, it announced it would not pay a dividend for the period in order to conserve capital. For the first time in 21 years, KCB Group shareholders will miss out on dividends after the bank reported a net profit to…

KCB to sell National Bank of Kenya

Sacco ReviewMarch 22, 2024March 22, 202402 mins

Kenya’s KCB Group has said it will sell its subsidiary National Bank of Kenya (NBK) to Nigeria’s Access Group. During an investor briefing on Wednesday March 30, the KCB’s Chief Executive Paul Russo, said the deal was struck at 1.25 times book value, but did not give the exact figure. He said, “The right thing to…

StanChart raises dividend payout by 31 per cent

Sacco ReviewMarch 13, 202401 mins

StanChart said it will raise its dividend by 31.8 per cent to KSh29 a share compared to 15 per cent representing KSh16 per share it had paid in 2022. In December, the lender had paid a KSh6 a share interim dividend, and now it has increased the final payout to KSh23 per share from KSh16…

Stanbic Holdings boosts dividend after KSh12 billion profit

Sacco ReviewMarch 8, 2024March 8, 202402 mins

Stanbic Holdings reported a KSh12.16 billion profit for 2023, allowing the lender to increase dividend to members. Annual profit was up 34 per cent from the previous year’s record of KSh9.06 billion after the net profit hit the highest in company’s history. READ ALSO: KenGen profit falls 9.2 per cent on weak shilling Therefore, Stanbic…

Kilifi based Imarika Sacco reports full-year 2023 results

Sacco ReviewMarch 2, 202402 mins

Kiliifi based Imarika Sacco recorded a net profit of KSh323.8 million for the year ending December 31, 2023. A year earlier it posted a net profit of KSh397 million. Total assets for the Sacco rose from KSh13 billion as compared to KSh11 billion in 2022. READ ALSO: Imarika Sacco gets a new chairman In itd…