Standard Chartered Kenya posts KSh 5.62B Q1 profit in 2024, driven by revenue growth, digital banking, and strategic cost management.
Banking & Finance

StanChart Kenya Q1 2024 Profits Surge 39.5%

The bank intends to keep investing in digital innovation, broadening its product offerings, and solidifying its market presence throughout Kenya. Focusing on a customer-centric approach and staying agile in response to evolving regulatory demands will be essential for overcoming future challenges and capturing new growth opportunities.

Equity Group posts Ksh 16B Q1 profit, driven by cost control, strategic lending shifts, and regional growth across East Africa.
Banking & Finance

Equity Group Q1 Profit Rises 25% to Ksh 16 Billion

Driving the bank’s recovery is a bold move to optimize financial performance. Equity Group focused on boosting deposits, achieving an 11% increase, while strategically cutting back on costly deposit placements. Simultaneously, the bank reduced long-term borrowed funds by 21% through retiring high-cost dollar-denominated loans, significantly enhancing cost efficiency.

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