KCSE candidates who qualify for university entry up 19pc
Google parent Alphabet to cut 12,000 jobs worldwide
Ruto names Duales brother for Ketraco chair, kicks out Uhurus pick
CMA extends operations nod for coffee auction under old rules
State faces rates pressure as private sector loans rise
Centum gets nod to maximise share purchases in buyback
Tea from western Kenya fetches low prices at sale
Users allowed to sue Safaricom over clients bank details access
KRA to track landlords, spy M-Pesa accounts for extra Sh375bn
State set to start national lottery to fund sports, arts
State eyes Sh10,000 a month mortgages
Lisa Marie Presley: Only daughter of the King of Rock and Roll bows out of stage
Theatre awards: KTA calls for public votes
Terras intimacy and my two-hour conquest
Chic Karen garden restaurant bursting with Coastal flavours
EDITORIAL: Roll out bold spending plans to tackle poverty
KAMANDE: How to tax the mega-rich Kenyans with little pain
MWANYASI: Why capital gains tax doesnt bode well for unquoted market
EDITORIAL: Weed out the quacks tainting HR practice
Duo seeks to Africanise centuries old yoga practice
Bouncers create union to sanitise industry
72,000 litres of contraband ethanol impounded in Oloitoktok
Kilifi to build a factory for making briquettes
MUGAMBI: Regulations overdue for nascent carbon markets
Synnefa charts a food security path with smart greenhouses
748 Air plans bio-fuels switch to offset emissions
KenGen takes leader position in e-mobility transition race
KCSE candidates who qualify for university entry up 19pc
Google parent Alphabet to cut 12,000 jobs worldwide
Ruto names Duales brother for Ketraco chair, kicks out Uhurus pick
CMA extends operations nod for coffee auction under old rules
State faces rates pressure as private sector loans rise
Centum gets nod to maximise share purchases in buyback
Tea from western Kenya fetches low prices at sale
Users allowed to sue Safaricom over clients bank details access
KRA to track landlords, spy M-Pesa accounts for extra Sh375bn
State set to start national lottery to fund sports, arts
State eyes Sh10,000 a month mortgages
Lisa Marie Presley: Only daughter of the King of Rock and Roll bows out of stage
Theatre awards: KTA calls for public votes
Terras intimacy and my two-hour conquest
Chic Karen garden restaurant bursting with Coastal flavours
EDITORIAL: Roll out bold spending plans to tackle poverty
KAMANDE: How to tax the mega-rich Kenyans with little pain
MWANYASI: Why capital gains tax doesnt bode well for unquoted market
EDITORIAL: Weed out the quacks tainting HR practice
Duo seeks to Africanise centuries old yoga practice
Bouncers create union to sanitise industry
72,000 litres of contraband ethanol impounded in Oloitoktok
Kilifi to build a factory for making briquettes
MUGAMBI: Regulations overdue for nascent carbon markets
Synnefa charts a food security path with smart greenhouses
748 Air plans bio-fuels switch to offset emissions
KenGen takes leader position in e-mobility transition race
More by this AuthorCompaniesAbsa, NCBA pass Stanchart in valueFriday January 20 2023
Absa bank on Muindi Mbingu Street in Nairobi. FILE PHOTO LUCY WANJIRU NMG
NCBA Group and Absa Bank Kenya have risen to overtake Standard Chartered Bank Kenya in the market capitalisation ranking of Kenyas listed lenders.
NCBAs market value had grown to Sh64.5 billion as of Tuesday, making it the fifth-largest bank.
The institution had an implied value of Sh44.8 billion on September 30, 2019, when it was ranked sixth.
NCBA was created on that day following the merger of the former CBA Group and NIC Group which was listed on the bourse and took on the new name after the business combination.
Read:What Absa market index says about bourse
The merger saw NCBA issue an additional 793.8 million shares to the former owners of CBA Group who took a combined 53 percent stake in the Nairobi Securities Exchange-listed bank.
Absa Banks market capitalisation also grew to Sh66.5 billion as of Tuesday, making it the fourth largest bank.
The lender was worth Sh59.7 billion on September 30, 2019, when it was ranked fifth after Stanchart whose market value stood at Sh68.6 billion.
Stancharts market capitalisation has since declined to Sh58.6 billion as of Tuesday, ranking it sixth.
The other listed banks maintained their positions despite posting a mix of growth and decline in shareholder wealth.
Equity Group, which has traditionally traded at the highest premium, remains the most valuable bank with a market capitalisation of Sh174.3 billion.
The banks market value also grew by the largest amount of Sh33 billion from Sh141.3 billion on September 30, 2019.
Equity overtook KCB in absolute profits in the year ended December 2020, extending its leadership in various measures including assets.
NCBA had the second-largest expansion in shareholder wealth at Sh19.7 billion.
This reflects the impact of the additional shares issued in the merger, the banks improved profitability and the higher dividend payout that has seen its share price rally the most among the listed lenders in recent months.
The stock surged to a 52-week high of Sh40.2 on Tuesday last week before easing to close at Sh39.2 this Tuesday.
Read:Inside meteoric rise of NCBA to a tier one lender
NCBA nearly doubled its net income to Sh12.8 billion in the nine months that ended September.
The bank has also announced that it will be distributing up to half of its profits going forward, signalling more generous dividends than was the case before.
Absa is third, expanding its shareholder wealth by Sh6.7 billion over the review period.
The bank posted a 30 per cent jump in net profit to Sh10.7 billion in the nine months that ended September on the back of higher income from lending.
Absa, which completed its expensive separation from its former parent firm Barclays Plc, has also joined other listed banks in reinstating dividends whose payout became erratic in the wake of the Covid-19 pandemic.
Stanbic Holdings saw its market capitalisation rise by Sh6.3 billion to Sh44.2 billion but kept its position as the seventh most valuable bank.
Co-op Bank added Sh2.3 billion to shareholder wealth to Sh72.1 billion, retaining its third rank.
KCSE candidates who qualify for university entry up 19pc
BIKO INTERVIEW: I believe in good karma not money
KRA to track landlords, spy M-Pesa accounts for extra Sh375bn
Users allowed to sue Safaricom over clients bank details access