Ibrahim S.’s Post

"World’s Best Banks 2024—Africa | Global Finance Magazine" https://lnkd.in/ewXJ6CQQ Congratulations to all the management and employee staffs of Awash Bank ...Awash Bank has won the Global Finance Award as one of the best banks in Africa for the third time in a row ...The achievements listed are opening 150 new branches,commanding a 20 percent market share in assets,18 percent in deposits and loans,16 percent in customer base.....The objective parameters include profitability,asset growth,geographic reach,strategic relationships,new business developments and product innovation..The subjective parameters include opinion of equity analysts,credit rating analysts,bank advisors and others opinion who are working in the banking industry...

💰 South African Banks Expand Across Africa 🌍 With growth stagnating at home, South African banks are expanding across the continent, tapping into new opportunities and remaining highly profitable. 📈💡 How will this shape Africa’s financial future? 👉 Find out more: #SouthAfrica #Banking #FinancialGrowth #AfricanMarkets #Profitability

With major shifts in banking capitalisation, increased minimum paid-up capital and heightened cash reserve requirements, financial institutions are navigating a transformative landscape. In this in-depth analysis, our Investment Team, Kevin Augustine Abuka and Ivan Musingo explore the drivers behind these changes, the strategies banks are adopting and what this means for the future of Uganda's financial sector. #FutureofFinance #BOU #BankingReforms CC. Bank of Uganda Stanbic Bank Uganda Centenary Bank Absa Bank Uganda dfcu Bank Standard Chartered

Exciting times for East Africa's banking sector! With 20% of Africa's top 100 banks emerging from this region, it's clear that innovation and resilience are driving significant growth. What implications does this have for investors and the future of financial services in East Africa? 👉 Explore the insights: #NmbBankTanzania #EconomicGrowth #Innovation #africa

𝐉𝐏𝐌𝐨𝐫𝐠𝐚𝐧 𝐂𝐄𝐎 𝐉𝐚𝐦𝐢𝐞 𝐃𝐢𝐦𝐨𝐧 𝐭𝐨 𝐯𝐢𝐬𝐢𝐭 𝐊𝐞𝐧𝐲𝐚 𝐢𝐧 𝐠𝐫𝐨𝐰𝐭𝐡 𝐩𝐮𝐬𝐡 JPMorganChase CEO Jamie Dimon is scheduled to visit Kenya in mid-October, marking his first trip to the continent in seven years.  This visit comes as J.P. Morgan seeks to accelerate its expansion plans on the continent, particularly in the wake of a delay in obtaining a banking license in Kenya. Despite having opened its Nairobi office last year, the bank has encountered regulatory hurdles that Dimon aims to address in high-level meetings with Kenyan government officials. The trip will also include visits to Nigeria, South Africa, and Ivory Coast. The expansion into Africa aligns with a broader trend among global banks aiming to increase their footprint on the continent, driven by rising opportunities in sovereign debt, corporate transactions, and wealth management services. Analysts suggest that international lenders are focusing on enhancing their offerings to multinational companies operating in Africa while also targeting affluent clients through private banking services. This strategic shift is seen as a way for banks like JPMorgan to differentiate themselves from local competitors and capitalize on the growing demand for sophisticated financial services. JPMorgan's aggressive approach to international expansion is evident from its recent initiatives, which include a $20 billion investment plan aimed at increasing its global presence and generating significant revenue growth. Over the past five years, the bank has successfully expanded into 27 new locations worldwide, contributing $2 billion in revenue from its commercial and investment banking operations. As major global banks adapt their strategies to individual African markets, JPMorgan's upcoming visit may serve as a pivotal moment for the bank to solidify its position and navigate regulatory challenges effectively.

East Africa’s banking sector is making waves, with 20 banks securing spots in the African Business Magazine Top 100 Banks. https://lnkd.in/e4dbe9AQ #Kenya leads the charge with 10 banks in the ranking, with Equity Bank Limited and KCB Bank Group holding strong positions. #Ethiopia’s banking landscape is also evolving, now boasting five banks in the rankings. #Banking #EastAfrica

Standard Chartered posts 10-year highest profit in Africa, Middle East. Standard Chartered Bank has announced a significant achievement in its 2023 Strategic Report, marking the highest annual profit in Africa and the Middle East in ten years, totaling $1.3 billion. This significant milestone underscores the bank's robust growth across fundamental areas, including a surge in operating income, a noteworthy increase in profits before tax, and substantial advancements in border income and loan networks. Sunil Kaushal, Chief Executive of Standard Chartered Africa and Middle East (AME), attributes this success to the bank's unwavering commitment to client success and strategic growth efforts. The bank's performance reflects financial growth with an operating income rise of 14% and a profit before tax surge of 66% to $1.311 billion. It is a testament to its leading role in the transition to net-zero goals and digital banking innovation. Standard Chartered's strategic advancements have not only resulted in financial growth but also in the expansion of its digital and sustainable banking offerings. As the first international bank to introduce digital fixed-income solutions in key African markets and launch initiatives like digital personal loans in Kenya, Standard Chartered is at the forefront of the digital banking revolution. The bank's leadership in the debt capital market for the tenth consecutive year and its significant role in facilitating trade and investments across the regions highlight its pivotal position in the global banking landscape. With a focus on providing unparalleled structuring and financing solutions and investing in cutting-edge digital initiatives, Standard Chartered is set to continue its trajectory of growth, sustainability, and innovation. #StandardCharteredGrowth #DigitalBankingRevolution #SustainableFinance

Kenyan bank stocks are poised for a surge with higher dividend prospects and earnings anticipation. AIB-AXYS Africa advises buying six key Nairobi Securities Exchange-listed banking stocks. Regional expansion, innovative customer offerings, and digital channels are expected to boost Kenya's banking sector.

LEI Africa Co-operative Bank Group (Co-op Bank) has once again proven its financial strength by posting a staggering profit of Ksh23 billion ($170 million) at the end of its 2023 fiscal year. The Nairobi-based financial services group, led by Kenyan banking magnate Gideon Muriuki, saw a rise of 5.22 percent in profit from Ksh22.04 billion ($165.97 million) a year earlier to Ksh23.19 billion ($174.69 million) due to increased income and reduced operating costs, according to the group's recently published financial results. Moreover, Co-op Bank's total assets jumped 9.53 percent, and shareholder funds rose 5.46 percent. These figures showcase the group's unwavering commitment to financial excellence and its ability to navigate challenging economic environments. #CooperativeBank #FinancialResults #Banking #Kenya

South Africa’s biggest bank gets a new CEO! Kenny Fihla has been appointed CEO of Standard Bank South Africa replacing former Treasury Director General Lungisa Fuzile. Standard Bank South Africa is the biggest bank in the country by assets and the most valuable country in the bank’s African portfolio of 20 nations. This is a sudden appointment, effective 1 September 2024, but has been coming for a few years as Fihla took on additional responsibilities within the bank. Fihla has been at Standard Bank for nearly two decades, spending most of his time within the bank’s Corporate and Investment Banking (CIB) division. Fuzile, on the other hand, had been a public servant for two decades in the National Treasury before becoming Standard Bank South Africa CEO in 2018. Standard Bank has been performing exceptionally well in the past few years. Income has grown at an average rate of 7% since 2014, while earnings have grown on average by 10% a year. In the first half of 2024, the bank delivered returns well above the cost of equity and an ROE within its ROE target range of 17% to 20%. On Friday, the bank announced executive appointments to “simplify and strengthen its management structures, to improve its competitiveness in the short to medium term, and to continue its strong growth momentum.” These appointments are effective from 1 September 2024. These appointments will enable our executive team to focus more precisely on their mandates and continue developing their expertise and networks, the bank said in a statement. These changes will also assist in ensuring Standard Bank has the number and depth of executives it needs to maintain its operations into the future. Further, these changes continue the process of allocating senior expertise to the areas of highest potential growth and, therefore, increasing capital allocation. #ceo #leadership #banking https://lnkd.in/dknGuxKh