Kenyan Wall Street | by Business Reporter
Absa Bank Kenya Plc, formerly Barclays Bank Kenya Limited has issued a profit warning saying its net profit for the 2020 full year is expected to decline significantly mainly triggered by the impact of coronavirus.
The listed bank said profit was also affected by the costs incurred by the recent rebranding from Barclays to Absa as well as increased impairment provisions due to the pandemic.
“Trends and forecasts show that the rate of impairment is increasing due to…
