The Standard | by Fredrick Obura
Absa Bank Kenya has reported a 23 per cent decline in earnings mainly attributed to Covid-19 related provisions.
The lender posted a profit after tax of Sh6.5 billion. The normalised performance excludes an exceptional cost of Sh3.2 billion which went towards the brand transition to Absa and restructuring programmes.
Absa Bank Kenya Managing Director Jeremy Awori said the lender offered loan relief and restructures worth Sh62 billion. “2020 was a tough year and the hardships of the banking sector have continued to…
