Business Daily | by Patrick Alushula
More commercial banks are now projecting a substantial fall in their full-year net profits for 2020 on account of Covid-induced economic disruptions that have weakened borrowers’ ability to repay loans.
Lenders say that they have had to significantly raise loan loss provisioning to reflect the economic fallout facing individuals and firms.
Co-operative Bank of Kenya has become the latest to inform its investors that it expects a material fall in full year earnings despite revenue from the mainstay business of lending registering a growth.
