Create Profile

Creating your profile will enable you to submit photos and stories to get published on News24.

Please provide a username for your profile page:

This username must be unique, cannot be edited and will be used in the URL to your profile page across the entire 24.com network.

Facebook Sign-In

Hi News addict,

Join the News24 Community to be involved in breaking the news.

Log in with Facebook to comment and personalise news, weather and listings.


MyNews24 is a user-generated section of News24 Kenya. The stories here come from users.

Latest Badges:

View all Nechesa Chemoi898's badges.

Chase Bank records 59% profit after tax in third quarter

04 November 2014, 11:02 Nechesa Chemoi

Nairobi - Chase Bank recorded a 59% growth in its profit after tax to KES1.8bn in September 2014 up from KES1.1bn in the same period last year.

The bank also disclosed that it had received KES1.3bn in new capital through a rights issue to its existing shareholders.
 Announcing its third quarter financial results, the bank reported that the new capital will ensure compliance with capital requirements and with a stronger balance sheet, support future growth.

During the period under review, total operating income went up by 60%, attributed to the bank's expansion programme, investment in IT and scaling up its operations to meet customer needs and expectations.

Total assets also increased by 51% from KES62bn in the same period last year to just over KES93bn at the close of September 2014.

Overall customer deposits for the bank grew by 52% to close at KES72bn from KES47bn, recorded the previous year. 

The bank reaped benefits from aggressive recruitment of SME and retail customers as well as the on-going branch expansion strategy in the counties.

Also read: Now Cadbury Kenya shuts down over counterfeits

Further, the bank’s customer numbers have grown by 127% to close at 102,000 in September 2014, up from 45,000 in the same period in 2013. This has been driven by an aggressive sales drive from the second quarter of the year.

Commenting on the bank’s performance, Chase Bank Deputy Executive Officer Paul Njaga disclosed that the bank’s results have been mainly driven by the SME and agribusiness units of the bank.

“The bank also continued to focus on long term sustainable growth by focusing on investing and growing future income earning platforms through investments in IT, the branch expansion programme and raising more capital to support future growth in SME, agribusiness, youth and women,” he said.

The KES1.3bn capital boost follows a long-term debt facility of KES4bn from Dutch development bank FMO, in addition to a KES1.6bn agreement signed with Microfinance Enhancement Facility SA, SICAV-SIF to support SME lending in Kenya.

For the latest on national news, politics, sport, entertainment and more follow us on Twitter and like our Facebook page!

Disclaimer: All articles and letters published on MyNews24 have been independently written by members of News24's community. The views of users published on News24 are therefore their own and do not necessarily represent the views of News24. News24 editors also reserve the right to edit or delete any and all comments received.

4 ways to handle your cheating man

24 October 2016, 21:02

Read News24’s Comments Policy

Comment on this story
Comments have been closed for this article.

Read more from our Users

Submitted by
Shakila Alivitsa
4 ways to handle your cheating ma...

He is cheating. How do you handle him?

Submitted by
Shakila Alivitsa
Why do men choose second wives?

Why do men choose to have second wives?

Submitted by
Eugene Odanga
Wizkid set for twin Kenyan shows

Wizkid is back in Kenya. For two shows.

Submitted by
Eugene Odanga
Udada women's festival begins in ...

The Udada women's festival has arrived in Nairobi.

Submitted by
Uhuru pardons 2747 death row conv...

President Uhuru Kenyatta has pardoned a number of death row convicts, sending them to life sentences instead. Read more...

Submitted by
Eugene Odanga
WATCH: Kaka Sungura arrested in t...

Was Kaka Sungura arrested in town?