World Bank approves KSh 75 billion loan to Kenya despite warning from CBK boss
Equity Bank managed to overcome a challenging operating environment to post a 7% increase in their net profit to ksh. 16.3 billion up from ksh. 15.2 billion in 2016. This rise in profits was informed by an 82% increase in the interest income from government securities to Ksh. 12.2 Billion. Non-interest income also grew by 20% to Ksh. 18.4 Billion as compared to Ksh. 15.2 Billion in 2016.
A Romanian C-27J Spartan, one of the weapons Kenya bought at Ksh20 billion. Image: Courtesy. Reports have emerged that Kenya borrowed more than Ksh30 billion to buy weapons which contributed to a Ksh270 billion build-up in the country’s foreign debt load in the four months to February.
The National Bank of Kenya has a loss of Kshs 1.2 Billion for the full year ended 31 December 2015 against a profit of Ksh 1.3 billion posted in the previous year . The huge drop is mainly attributed to Non Performing Loans which increased in the last quarter of 2015. Provisions and loan impairment charge increased by Ksh 3.2 [.]
Tuko.co.ke News World Bank has granted Kenya additional loan of KSh 75 billion despite protest from a section of Kenyans who had pleaded with the global lender not to approve the new credit facility which was applied for by the Treasury boss.
An image grab taken from a broadcast by Islamic Republic of Iran Broadcasting (IRIB) on Monday shows crewmembers of the British-flagged tanker Stena Impero, after it was seized by Iran’s Revolutionary.
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Rotich who spoke to KTN after the World Bank on May 29 granted Kenya KSh 75 billion to support President Uhuru Kenyatta’s Big Four agenda also indicated the government was not yet done borrowing.