Stanbic Bank Kenya, a subsidiary of Stanbic Holdings Plc, reported a 16.6% decline in net profit for the first quarter ended March 2025, largely attributed to a sharp drop in non-interest income, particularly from forex trading activities. According to reporting by Business Daily Africa, the bank posted a net profit of KSh 3.3 billion for Q1 2025, down from KSh 3.9 billion in the same period the previous year. The main contributor to the decline was a 27.2% slump in non-interest income, which fell to KSh 2.7 billion. Notably, forex trading income plunged to KSh 977 million from KSh 2.3…
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Paul Bwiso, the Chief Executive Officer of the Uganda Securities Exchange (USE), has been appointed the new Chairman of the East African Securities Exchanges Association (EASEA), following the association’s 34th…
British International Investment (BII), UK’s development finance institution and impact investor, has sold its 10.1% stake in I&M Group PLC, East Africa’s banking group, to AfricInvest. The acquisition was made…
