BLUES ACADEMY’s Post

In the financial year ending December 31, 2023, Kenyan banks reported significant net earnings, resulting in substantial dividends for shareholders. Here are the key highlights:   1. Family Bank Ltd saw a 13.3% increase, resulting in Sh2.5 billion in dividends. 2. Equity Bank Limited reported a 5% growth, amounting to Sh41.98 billion in dividends. 3. I&M Bank Ltd declared a 15% increase, leading to Sh13.3 billion in dividends. 4. NCBA Group experienced a substantial 55.7% growth, providing Sh21.4 billion in dividends.  5. Absa Bank Kenya declared a 12% increase, resulting in Sh16.4 billion in dividends.  6. Diamond Trust Bank reported a 15% growth, resulting in Sh7.8 billion in dividends.  7. KCB Bank Group had a decrease of 8%, providing Sh37.5 billion in dividends. 8. Co-operative Bank of Kenya saw a 5.2% increase, leading to Sh23.2 billion in dividends. 9. Stanbic Bank Kenya reported a remarkable 34% growth, resulting in Sh12.2 billion in dividends. 10. Standard Chartered declared a 15% increase, providing Sh13.8 billion in dividends. Kenyan banks had a profitable year, with some institutions experiencing substantial growth in net earnings and shareholder dividends.

Standard Chartered Bank Kenya's dividend yield has risen to 17%, while most bank shares have fallen after final dividend payments. Standard Chartered’s share price fell by 12.8% to Ksh. 170.25. Other dividend-paying banking stocks have seen similar falls. I&M Bank Ltd Group’s dividend yield rose to 13.8%, while Co-operative Bank of Kenya's yield increased to 12.5%. NCBA Group and Absa Bank Kenya's yields also improved, and Diamond Trust Bank Group, Equity Bank Limited, and Stanbic Bank Kenya will close their registers for their final dividends soon. The dividend yield ratio has an inverse relationship to the stock price. More on: https://lnkd.in/gJ_CHtcZ #StandardChartered #bankingstocks #dividendyield #investments #Kenyanbanks #I&MGroup #CooperativeBankofKenya #NCBAGroup

UBA, a leading pan-African financial services group, showcased remarkable financial resilience amid challenging macroeconomic conditions, with a 16.92% profit increase to $320.9 million in 9M 2024. Notably, customer deposits soared by 54.3% to $14.05 billion, highlighting strong liquidity and growing client trust. The bank's total assets surged by 54% to $19.44 billion, underscoring its expanding financial strength. Tony Elumelu's leadership has been instrumental in driving this growth, with profit growth fueled by improved fee income and robust foreign exchange earnings. UBA's adaptability in volatile markets is evident, with net interest income climbing by 149.01% and non-interest income demonstrating resilience despite challenges. With Tony Elumelu holding a 7.39% stake in UBA and the bank's assets reaching $19.4 billion, UBA continues to strengthen its position as a top player in Nigeria's financial landscape and beyond.

Your Dose of Weekly Highlights: ☑ The week started with the Central Bank of Kenya giving greenlight to one of the largest and most influential financial institutions in the world, JPMorganChase Bank, to establish a representative office in Kenya, ending a 12 year wait. ☑ The bank then appointed Sailepu Montet, former deputy director of financial markets at the Central Bank of Kenya, as its country manager for Kenya. Montet has served as CBK’s deputy director of financial markets and head of reserves management since July 2021. ☑ This week, investors ran for the shorter term government securities, raising a total Ksh 34.5 Bn for the government, against the Ksh 24 Bn that was on offer. ☑ Government also released results for the 10 year Treasury Bonds Tap Sale, which has seen the government raise Ksh 15.1 Bn ☑ I&M Group announced it is planning to issue up to 86.5 million new ordinary shares. These new shares will be purchased by East Africa Growth Holding (EAGH) at a set price of KES 48.42 per share. I&M Bank Ltd ☑ Investors smiled all the way to the banks as BOC Kenya disbursed its interim dividend of Ksh. 2.50 per share to shareholders early in the week ☑ Additionally, Absa Bank Kenya’s shareholders pockets were heavy as they were paid the 2024 interim dividend of Ksh 0.20 per share, ☑ Safaricom PLC extended its M-PESA Global service to Ethiopia allowing customers to make mobile money transactions from Kenya to Ethiopia.  This expansion aims to increase mobile money use and penetration across Ethiopia boosting local economies as well as creating opportunities for individuals and businesses across the region. ☑ NCBA Group, one the leading Tier 1 Banks in Kenya officially kicked off their 2024 Johari Awards. The award will celebrate excellence in the insurance and asset finance sectors, honoring top performers across various cities in Kenya, culminating in a grand finale in Nairobi. ☑ The bank also did the unimaginable, they took over 100 Business Customers to China for a market familiarization trip. The customers on this trip will gain valuable insights into the latest business trends and technologies that make China a global trade leader. ☑ And on Thursday, the European Investment Bank (EIB) and the European Union hosted a forum on “Investing in Young Businesses in Africa” to help early stage businesses and young entrepreneurs launch and grow successful businesses to create jobs in Africa. ☑ During the event, the European Investment Bank (EIB Global) and KCB Bank Kenya announced a €230 million (KShs. 32 billion) partnership to support small and medium enterprises (SMEs), youth and women in Kenya. KCB Bank Group ☑ Looking ahead, we are very ready for the 4th Abojani Economic Empowerment Conference that will take place on 23rd November 2024.  We invite you to book a seat today at our table! Call: 0763 682 116 or Email: learning@abojani.com

African Export-Import Bank (Afreximbank) achieves another remarkable performance despite global challenges In 2023, #Afreximbank saw substantial growth with net interest income reaching $1.4 billion, up from $910.3 million in 2022—an impressive 58.67% increase. This success was driven by a 78.59% rise in interest income, totaling $2.5 billion, fueled by expanded loans and advances. With total assets growing by 20.12% to $33.5 billion, Afreximbank remains steadfast in its commitment to intra-African trade promotion, industrialisation, and export development, all while bolstering its #leadership in trade #finance. Despite global headwinds such as supply chain disruptions and high interest rates, Afreximbank continues to support member countries with trade finance solutions, enhancing food security, and mitigating climate change impacts. Join us in celebrating Afreximbank’s resilience and commitment to sustainable growth and economic stability in Africa! 👉 Read the full article by Afreximbank here: Sponsored by African Export-Import Bank (Afreximbank) #TradeFinance #EconomicResilience #IntraAfricanTrade #FinancialPerformance #GlobalChallenges #Industrialization

Genghis Equities suggests accumulating shares of Absa Bank Kenya this week, citing its strong Q1 performance with a 32.92% q/q growth in EPS and a resilient dividend yield of 11.3%. Despite bearish sentiments prevailing in the equities market, foreign investors showed bullish activity, with net inflows amounting to KES 0.88Bn. The SSA markets closed the previous week with Nigeria leading in performance and Egypt lagging behind. In the fixed-income market, secondary turnover increased, and the highlight was the announcement of the June 2024 Primary Bond Auction. The Central Bank of Kenya's initiative to lower the minimum investment for government securities promotes financial inclusion and market liquidity. Expected in the upcoming week are Treasury Bills auctions, while several companies have dividend payment dates scheduled. Market performance across various sectors reflects a mix of gains and losses, with Absa Bank Kenya showing notable resilience in the banking sector.

Nedbank Group Ltd. is setting out to reinvent itself across the African continent as it looks to reduce its dependence on South Africa and nearly quadruple its profit from other African markets over the next decade. #nedbank #banking #markets https://lnkd.in/dp84stAx

𝐁𝐚𝐧𝐤𝐢𝐧𝐠 𝐚𝐧𝐝 𝐂𝐚𝐩𝐢𝐭𝐚𝐥 𝐌𝐚𝐫𝐤𝐞𝐭𝐬 𝐖𝐫𝐚𝐩 𝐔𝐩 𝟐𝟎𝟐𝟒 𝐚𝐧𝐝 𝐎𝐮𝐭𝐥𝐨𝐨𝐤 𝟐𝟎𝟐𝟓 2024 saw pivotal shifts in Nigeria’s banking and capital markets sectors. Notably, the Central Bank of Nigeria took decisive steps, including a series of monetary policy rate hikes, a banking sector recapitalisation, and a revision of supervisory guidelines for BDC operators, all aimed at reinforcing the economy. For the Nigerian capital markets, despite early turbulence with a NGN1.3 trillion loss and a 2.4% dip in the NGX All Share Index, the market rebounded strongly, surpassing NGN59.1 trillion in capitalization and achieving a 30.4% growth by December 2024. Ultimately, Nigeria’s banking and capital markets sectors remained resilient throughout 2024, laying the foundation for the achievement of the $1 trillion economy target by 2030. Here is a closer look at the banking and capital markets regulatory and market trends in 2024, and the trends we expect to see in 2025. 🔗 Click here to read the outlook: https://lnkd.in/d4Uv_6Zu ________________________________ #BankingOutlook #CapitalMarkets #2025Outlook #OlaniwunAjayiLP

A must read for all interested in the banking and capital market.

The Nigerian Banking and Capital markets displayed notable resilience and growth throughout 2024. In this report, we highlight the key regulatory developments and market trends that shaped these spaces in 2024, while providing insights into the anticipated trends for 2025. #Olaniwun Ajayi