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The Standard Group Plc is a
multi-media organization with investments in media platforms spanning newspaper
print operations, television, radio broadcasting, digital and online services. The
Standard Group is recognized as a leading multi-media house in Kenya with a key
influence in matters of national and international interest.
At the beginning of this year, Kenyan banks joined their global peers in adopting the International Financial Reporting Standards 9 (IFRS 9), ushering in a significant shift in accounting for financial instruments.
As the financial institutions settle in under the new regime — which among other things requires that provisions are made on the basis of expected, rather than realised loan losses — focus is shifting to the impact this would have on the banking sector and the economy as a whole.
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