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

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,…

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Stanbic Banks Chief Financial Value Officer Dennis Musau. Photo: courtesy

Stanbic Holdings boosts dividend after KSh12 billion profit

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…

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KenGen CEO Eng. Peter Njenga addresses the press during a past function. Photo: File

KenGen profit falls 9.2 per cent on weak shilling

Kenya Electricity Generating Company (KenGen) has reported a 9.2 per cent drop in net profit in first-half earnings compared with the same period a year earlier. The listed firm reported KSh2.96 billion in net profit for the six months to December 2023. This profit drop from the KSh3.26 billion reported in a similar period last…

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Co-operatives set for a dividend bonanza from Co-op Bank’s Ksh8.8B cash dividend payout

By Felix Wanderi Co-operative Bank board of directors has recommended a dividend of Ksh 1.50 per share, subject to approval by the regulators and shareholders. Co-op Bank Group CEO Gideon Muriuki said the proposed dividends represent a 50 per cent increase on the Ksh 1.00 per share paid out last year. He added that the bank will pay out a…

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