Rank: Chief Joined: 8/4/2010 Posts: 8,977
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mwekez@ji wrote:KCB’s foreign subsidiaries outpace Equity banksKCB foreign subsidiaries outperformed Equity Bank’s in the six months to June helped by increased income from transactions. The bank’s network of regional branches reported a 80 per cent increase in net profit to Sh879 million in the six months to June while that of Equity Bank and business lines dropped to Sh144 million compared to Sh348 million in the period under review. KCB, which is Kenya’s largest bank by assets, operates in Tanzania, Rwanda, Uganda, South Sudan and Burundi while Equity has a presence in the foreign markets save for Burundi. Both banks recorded gains in lending income from the subsidiaries, but KCB outpaced Equity in earnings from transaction incomes such as ATM charges, over-the-counter withdrawals. I spotted it on results release and got surprised. I decamped from simba to member this year expecting simba to drag a bit, but simba might prove me wrong...
$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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