Banks profits up 42pc on increased lending, less costs

central bank of kenya cbk


Business Daily | by Patrick Alushula


Banks’ profits jumped 41.7 percent in the five months to May on increased lending and lower costs tied to loan defaults, pointing to continued recovery from Covid-19 economic hardships.

Data from the Central Bank of Kenya (CBK) shows that the pre-tax earnings in the five months rose to Sh76.4 billion from…

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