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Top banks set aside Sh109bn for loan losses
Tuesday April 06 2021
By VICTOR JUMA
Summary
Higher provisions have the effect of hitting the bottom-line while eroding the capital base and led to dividend payouts from listed banks falling 43.6 percent to Sh19 billion.
The economic disruption brought by the Covid-19 pandemic is the biggest driver of the increased provisions, with most sectors including tourism, transport, real estate and households hurt by the fallout.
Kenya’s top nine listed banks raised their provision for non-performing loans by a record Sh77.3 billion in the year ended December, cutting their combined net earnings by 25.5 percent to Sh81.2 billion.
Safe Harbor for Forward-Looking Statements This corporate presentation contains forward looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934. All statements other than statements of historical facts included in this corporate presentation regarding IFS business, financial condition, results of operations and certain of IFS plans, objectives, assumptions, projections, expectations or beliefs and statements regarding other future events or prospects are forward-looking statements. These statements include, without limitation, those concerning: IFS strategy and IFS ability to achieve it; IFS recent developments; expectations regarding sales, profitability and growth; IFS possible or assumed future results of operations; capital expenditures and investment plans; adequacy of capital; and financing plans. In addition, this corporate presentation includes forward-looking statements relating to IFS potential exposure to va
Newtopia Reports Fourth Quarter and Full Year 2020 Financial Results
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Q4 2020 Revenue and Gross Profit increased 61% and 751%, respectively
Continued to strengthen robust business pipeline, while broadening multi-year partnerships with current Fortune 500 clients
Launched new relationship with a Fortune 500 apparel and home fashion chain with over 90,000 employees
TORONTO, April 6, 2021 /PRNewswire/ - Newtopia Inc. (
Newtopia or the
Company ) (TSXV: NEWU), a tech-enabled habit change provider focused on disease prevention, today reported financial results for the fourth quarter and full year 2020. All amounts are expressed in Canadian dollars, unless otherwise noted.
Fourth Quarter 2020 Financial Highlights (vs. Q4 2019):
Revenue increased 61% to $2.5 million
ESMA - European Securities and Markets Authority (via Public) / ESMA publishes 2020 report on enforcement of corporate disclosure publicnow.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from publicnow.com Daily Mail and Mail on Sunday newspapers.