Kenya | NSE

Cooperative Bank demonstrated modest performance, with net earnings rising 4.4% y/y to KES 19.21Bn.

Equity Group Holdings demonstrated robust financial performance with net earnings climbing 13.1% y/y to KES 40.94Bn.

Safaricom Group posted a 17.7% y/y decline in shareholder net earnings for HY’25 to KES 28.12Bn, primarily prompted by foreign exchange reforms in Ethiopia. Group revenues grew 15.1% y/y to KES 189.42Bn driven largely from value-driven double digit growth in M-Pesa and Mobile Data.

On a monthly perspective, the market indices recorded an upward trend with the Nairobi All Share Index increasing by 3.3% m/m, NSE-20 increasing 5.8% m/m and NSE-10 increasing 3.4% m/m

On a monthly perspective, the market indices recorded a mixed trend with the Nairobi All Share Index declining by 1.9% m/m, NSE-20 increasing 0.5% m/m and NSE-10 declining 0.5% m/m.

KCB Group HY’24 earnings surpassed in-house expectations to post an outsized 86.4% y/y surge in net earnings to KES 29.92Bn and an impressive 1020bps jump in the Group return on equity to 26.1% over the first half of 2024.