Business Daily | by Patrick Alushula
Banks have posted the lowest 11-month pre-tax profit in eight years, pointing to the massive disruption of Covid-19 to the sector that has enjoyed a history of strong growth in earnings.
Latest data from the Central Bank of Kenya (CBK) shows that the pre-tax earnings in the period ended November 2020 declined by 28.2 percent to Sh107.7 billion from Sh150.1 billion posted a year earlier.
This is the lowest 11-month pretax earnings for the banking sector since 2012 when the sector returned Sh98.8 billion and…
