[Source: Business Daily, by Victor Juma]
KCB Group’s net earnings dropped by a staggering 40.4 percent in the half year ended June, indicating the impact of coronavirus-related defaults and loan restructuring on the banking industry.
The country’s biggest bank by assets said it made a net profit of Sh7.5 billion in the review period compared to Sh12.7 billion the year before, attributing the performance to increased provisioning for bad debt.
KCB did not declare an interim dividend, which has…
