Absa Kenya

Absa Kenya
CorporateNews

Absa Kenya’s first-quarter profit up 51 percent to Sh4.5 billion

Absa Bank Kenya’s net earnings for the three months’ period ended March have increased by 51 percent to Kes4.5 billion on higher income. In the quarter, loans and advances to customers went up by 28 percent to Kes310 billion with the bulk of the credit going to the small and medium enterprises (SMEs) segment. Absa has been positioning itself as a partner for powering SMEs growth in the country. Absa has introduced China Desk to support a growing community of Chinese investors and business people operating across the region. However, the bank’s provision for bad loans increased by Kes1.2 billion or 103 percent to Kes2.4…

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absa
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Regional lenders are betting on Kenyan CEOs

Absa Kenya, Stanbic and Ecobank have all banked on Kenyan CEOs as regional lenders seek executives with digital expertise and command of the East Africa banking experience to navigate Africa’s large unbanked populations. Absa Kenya appointed Mr Abdi Mohamed to take over its East Africa’s largest operation in Kenya after its former boss Jeremy Awori left to head Ecobank. Mr Joshua Oigara who left the helm at KCB Bank was also taken up by Stanbic Bank as its regional head. Absa Bank sought to stick with a local hand to navigate the Kenyan subsidiary of the South African banking giant when it settled for Abdi…

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Kenya CBK QR Code
News

Why transactions via QR Codes are set to go up in Kenya

In today’s marketplace, Quick Response (QR) codes are a common sight, showing up on everything from simple product packaging to roadside billboards and even menus in estate restaurants. Increasingly, the convenience of accepting payments through a quick code scan is luring more customers and business owners, and regulators such as the Central Bank of Kenya. The QR code system allows businesses to take payments without having to spend money on pricey new equipment deployed by various service providers. With the need for quick and secure digital payment methods becoming even more urgent as e-commerce and online shopping takes root, globally QR codes are increasingly becoming…

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