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KCB Group Plc Q1 2024 Earnings Highlights: Faida Investment Bank has released a comprehensive report on KCB Group Plc's Q1 2024 earnings. The report highlights KCB's robust performance, driven by a 46% surge in interest income and a 69% jump in group profitability. With a diverse product portfolio, including asset management and investment banking divisions, KCB has demonstrated strong growth momentum. Key Takeaways: -KCB outperformed market indices and banking peers in Q1 2024. -Interest income from loans and government securities saw remarkable growth. -Non-funded income also recorded a 17.8% increase, boosted by forex trading income. -Operating costs expanded, but efficiency improved with a declining cost-to-income ratio. -Subsidiary performance, especially from Rwanda and Tanzania, contributed significantly to profitability. -Asset quality remains a concern, with elevated non-performing loan ratios in certain sectors. Faida Investment Bank recommends a "BUY" rating on KCB Group, with a fair value estimate of KES 39.83, representing a 10.3% upside potential. The report highlights KCB's attractive valuation, diverse offerings, and growth prospects, making it an appealing investment opportunity. For detailed insights and analysis, check out the full report 

Across key indicators, the lender recorded impressive growth. The report showed that various divisions achieved robust earnings growth, as the banking group division rose by 185.5 per cent; consumer finance, 10.3 per cent; investment management, 53.3 per cent; and investment banking 54.3 per cent. Follow the story here https://lnkd.in/dJwJhuaM #FCMB #banking #stockmarketreports #Nigeria #banking FCMB Group

A study we just published looks at the impact of the EIB’s intermediated lending in the Western Balkans. We find that EIB-supported loans boost employment and investment among SMEs, particularly those previously who did not have access to finance. #eib #smes #westernbalkans #westernbalkans #jobcreation #economicgrowth https://lnkd.in/e-XpCZH2

8 Billion SAR in Financing Provided to SMEs in 2023 by the Small and Medium Enterprises Bank 🔸️CEO of the Small and Medium Enterprises Bank SME Bank, told "Al-Eqtisadiah" that the financing provided to #SMEs through the "#Funding Portal" and its partners reached about 8 billion SAR ($2.13 billion) in 2023, through 25,000 #financing deals. Of this, 1 billion SAR ($266 million) was financed for about 850 establishments by the bank's private portfolio. 🔸️About the Small and Medium Enterprises Bank: ▪️The Small and Medium Enterprises Bank SME Bank, established in 2021, is a #SaudiGovernment bank aimed at supporting and developing the #SME sector in the #Kingdom. Since its inception, the bank has executed financing operations totaling 22 billion SAR ($5.87 billion) through more than 45,000 deals. ▪️ Financial and Banking Partners: The bank collaborates with various financial and banking partners, including commercial banks, financing companies, and investment funds, to provide financing solutions for SMEs. ▪️Supported Activities: The bank supports a wide range of activities, including innovation and technology, #tourism, #industry, and #logistics. #smallbusiness #entrepreneurship #businessgrowth #funding #financing #economicdevelopment #smes #finance #wealth #investment #realestate #business #money

SMEs are increasingly less likely to acquire funding from high street banks!! New data reveals from iwoca that currently, 84% of finance brokers said high street banks were increasingly hesitant to lend to SMEs. However, despite our high street banks’ reluctance to give funding to SMEs, actual demand for finance increasing. 81% of brokers said that the need for finance will rise over the next six months which will cause a significant and substantial shortfall and its smaller businesses which will be hit hardest with this. Simeon Duffy, Sales Manager at Johnson Reed Business Finance thinks alternative finance providers need to step up during this period. “With high street banks continuing to decline and avoid SME lending, small businesses need a strong and attractive alternative, it’s time for business finance companies to step up for the economy and provide the growth potential” he said. #SME #alternativefinancing #businessfinance #leasing #loans #assetfinance

Kihara Maina, the I&M Group Plc, Regional CEO said that the 2023 performance is a clear affirmation that the iMara2.0 strategy which came to an end in 2023 after three years, has delivered remarkable year-on-year results. Key highlights include: 📌Profit After Tax of KES 13.3 billion (approximately UGX390 billion) for the year ended 31st December 2023. 📌 Profit Before Tax rose from KES 10.9 billion in 2020 to KES 16.7 billion in 2023. 📌 The loan portfolio grew by 30% to KES 311 billion 📌 Customer deposits closed at KES 417 billion, recording a 33% increase year-on-year. 📌 Operating income grew by 20% from KES 36 billion in the previous year to KES 43 billion 📌 Return on Equity grew from 10% in 2020 to 15% in 2023. 📌 The Group’s regional subsidiaries in Rwanda, Kenya and Tanzania continued to show steady growth, contributing 24% to the Group’s overall profitability. Gul Khan Robin Bairstow Sam Ntulume Sarit Raja-Shah Silas Mutuku MCSI Zahid Mustafa Benjamin Mutimura Edward Burbidge, CFA Mark Watkinson https://lnkd.in/d9j9YuSX 

iwoca, one of Europe’s largest SME lenders, has announced a new funding line with initial commitments of £200 million from Barclays and Värde Partners. In January this year, iwoca secured an increase and extension to its existing funding line, with long-standing partner Pollen Street Capital - from £125 million to £170 million - as demand for SME finance soared. With the new £200 million funding line from Barclays and Värde, this now takes the total debt commitments to over £850 million. As high-street banks reduce access to capital for SMEs, this funding line equips iwoca to meet the growing SME demand for working capital. According to iwoca’s Q2/23 SME Expert Index, more than four in five brokers (84%) say high street banks are reducing their appetite for funding SMEs. This increased by 7 percentage points since Q1 2023. A similar proportion of SME finance experts (81%) predict demand for finance for SMEs will increase by the end of the year, indicating that the funding gap for SMEs is set to widen without support from alternative lenders. ‣ Source: https://lnkd.in/eY9E8WTU ‣ Join 50k other FinTech Fanatics and sign up for my daily FinTech Newsletter here: https://lnkd.in/eVNvGnDW #donedeal #funding #fundinground #investors #investment #vc #fintech #fintechindustry #fintechinnovation #financialtechnology #financialservices #fintechnews

As financing costs soared in 2022, SME loan applications dropped by two percentage points. New Lending to #SMEs declined in most countries, driven by rising interest rates and reduced credit availability due to increased risk perception among banks, a report by the #oecd shows. In 2023, the persistent stringent credit environment was expected to lead to a continued downtrend in SME lending. On #fintechs, the report notes that these platforms have demonstrated their ability to reach underserved segments of the SMEs. The trend is becoming more prevalent in countries where banks tend to be more risk-averse and where borrowing costs are high. For example, survey data from Southeast Asian countries10 show that most users of #fintech platforms are sole traders (78%) and young companies, 1 to 5 years old (56%). Of the MSMEs that raised funding through these platforms, 65% had previously approached banks for funding. Read more: https://lnkd.in/ezC9hj-c #msmes #lendingsolutions #lending #financingsolutions #internationaldevelopment #accesstofinance #sustainablefinance #globaldev #afdb #wto #usaid #investinwomen #smallbusinesses #supportsmallbusinesses #africa #sme #founders #msmesector #microenterprise

🚨 Is the landscape shifting for SME financing? 🚨 New data from iwoca's Q1 2024 SME Expert Index reveals brokers' concerns: nearly 80% believe banks are pulling back on SME funding. Key points: Big businesses dominate lending, leaving SMEs struggling. Bank lending to SMEs dropped significantly. Brokers foresee a surge in SME finance demand, but doubts linger about banks' willingness to meet it. With traditional routes narrowing, alternative lenders are stepping in. 💡 Ready to navigate the changing landscape of SME finance? #SMEFinance #AlternativeLenders #FinancialInsights

🚨 Is the landscape shifting for SME financing? 🚨 New data from iwoca's Q1 2024 SME Expert Index reveals brokers' concerns: nearly 80% believe banks are pulling back on SME funding. Key points: Big businesses dominate lending, leaving SMEs struggling. Bank lending to SMEs dropped significantly. Brokers foresee a surge in SME finance demand, but doubts linger about banks' willingness to meet it. With traditional routes narrowing, alternative lenders are stepping in. 💡 Ready to navigate the changing landscape of SME finance? #SMEFinance #AlternativeLenders #FinancialInsights