Business Daily | by Patrick Alushula
KCB Group is on course to issue a profit warning this year, weighed down by a sharp increase in losses linked to loan defaults in the wake of coronavirus economic hardships.
This means that the top lender’s profits will drop by at least 25 percent of last year’s earnings — marking the first time in 18 years that the bank will report a fall that requires listed firms to issue profit alert.
CEO Joshua Oigara says there is little recovery happening in the fourth quarter of the year…
