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Family Bank Posts Sh1.6bn Q1 Profit on Strong Lending Growth
Family Bank reported a 52.6 percent increase in first-quarter net profit, reaching Sh1.6 billion compared to the previous year, driven by strong lending growth. I&M Group also posted strong results with a 19% profit growth to KES 5.0 billion in Q1 2026, demonstrating continued momentum in Kenya's banking sector. Meanwhile, HF Group Plc has rebranded to HFCB, consolidating its parent company and subsidiaries into a single identity to streamline operations and market presence. These developments reflect a broader trend of Kenyan financial institutions expanding their footprint and improving profitability.
CMA Approves Two ISPP Platforms in Push to Expand Digital Investing
The Capital Markets Authority approved two fintech firms, Moneto Ventures Limited and Pesa Bridge Limited, to operate as Intermediary Service Platform Providers, expanding digital investing options in Kenya. Mitsumi Distribution is investing $2 million (Sh 258 million) in a new artificial intelligence cloud platform to provide affordable computing infrastructure for young Kenyan developers and entrepreneurs. Binance marked Africa Month by highlighting its commitment to digital inclusion and community development across the continent, coinciding with rising cryptocurrency adoption. These stories collectively showcase Kenya's growing fintech ecosystem and digital finance infrastructure.
