Kenyan Wall Street | by Miriam Wangui
East Africa’s largest bank by assets, KCB Group, expects its full year profit to drop by more than 25% compared to last year’s full year profit due to the adverse effects of Covid-19 pandemic.
It is the first time in nearly two decades that the company is issuing a profit alert.
In an interview with the Business Daily, KCB Group CEO Joshua Oigara said that it is unlikely that the bank will recover in the last quarter of 2020, after posting a 43% drop in net profit…
