Banking News
The latest developments, earnings reports, and strategic shifts across global banking.
Shizuoka, Hachijuni and Yamanashi Chuo banks sign comprehensive business alliance in Japan
The three regional lenders in central Japan formed the Fuji-san Alps Alliance, targeting a combined revenue effect of about ¥20 billion over five years while remaining independent.
Bank of China Posts RMB 237.84 Billion FY2024 Profit as Non-Interest Income Rises
Bank of China posted FY2024 net profit of RMB 237.84bn, up 2.6% year-on-year, with non-interest income rising 16.65% as trading gains offset net interest margin compression.
I&M Group Kenya Reports All-Time High FY2024 Profit After Tax of KES 15.4 Billion, Up 22%
I&M Group Kenya achieved an all-time high FY2024 profit after tax of KES 15.4 billion, up 22%, as net interest income rose 31%.
United Bank for Africa Reports NGN 3.19 Trillion Gross Earnings and NGN 767 Billion Net Profit for Full-Year 2024
UBA posted FY2024 gross earnings of NGN 3.19tn, up 53.6%, and profit after tax of NGN 767bn as total deposits hit NGN 24.65tn and the bank served 45 million customers globally.
Stanbic Uganda Holdings Posts Record UGX 478 Billion Profit as Assets Cross UGX 10 Trillion
Stanbic Uganda Holdings reported record FY2024 profit after tax of UGX 478 billion, up 16.2%, as total assets crossed the UGX 10 trillion mark for the first time.
Bank of Communications Reports FY2024 Net Profit of RMB 93.6 Billion as Net Interest Margin Pressure Persists
BoCom's FY2024 net profit attributable to shareholders edged up 0.9% to RMB 93.6 billion, with operating income growing modestly amid NIM pressure, while its non-performing loan ratio edged down to 1.31%.
Co-operative Bank of Kenya Posts FY2024 Profit After Tax of KES 25.5 Billion, Up 9.8%
Co-operative Bank of Kenya grew full-year 2024 profit after tax by 9.8% to KES 25.5 billion as total assets rose 11% to KES 743 billion.
Ping An Insurance Group Reports FY2024 Net Profit of RMB 126.6 Billion, Up 47.8% Year-on-Year
Ping An's net profit attributable to shareholders surged 47.8% to RMB 126.6 billion in 2024, with operating profit up 9.1% and revenue up 10.6%.
Egypt's Banque du Caire Posts EGP 12.4 Billion Net Profit for FY2024
Banque du Caire reported FY2024 net profit of EGP 12.4bn, up 86% year-on-year, with operating revenues up 56% to EGP 34.7bn and gross loans up 26%.
Standard Bank Group Reports FY2024 Headline Earnings of R45 Billion with ROE of 18.5%
Standard Bank Group posted FY2024 headline earnings of R45 billion with an ROE of 18.5%, as Africa Regions grew earnings 22% in local currency and active clients rose to 20 million.
KCB Group Kenya Records FY2024 Net Profit of KSh 61.8 Billion, Up 65%
KCB Group posted a full-year 2024 net profit of KSh 61.8 billion, up 65%, driven by risk-based loan pricing, record non-funded income, and a 24% rise in total operating income.
Absa Group South Africa Posts FY2024 Headline Earnings of R22.1 Billion, Up 10%
Absa Group reported FY2024 headline earnings of R22.1 billion, up 10%, with an improved credit loss ratio and its R100 billion sustainable finance target met ahead of schedule.