Business Daily | by Victor Juma
KCB Group has reported a 43.1 per cent net profit drop in the nine months ended September, weighed down by a sharp increase in provisions for coronavirus-related defaults.
The country’s biggest bank by assets posted net earnings of Sh10.8 billion in the review period compared to Sh19.1 billion the year before.
“The performance was largely impacted by increased provision on loans and advances in the wake of increased risk of credit default associated with the Covid-19 pandemic…
