Customers wait to be served at an Absa branch in Nairobi. The bank’s performance was largely impacted by increased provision on loans and advances. PHOTO | FILE | NMG
Absa Bank Kenya PLC has joined top-tier banks reporting huge declines in profits as a result of the higher provisioning for bad loans.
In its third quarter report, Absa reported a 66.1 per cent profit decline in nine months this year of $19 million from $56 million last year, joining the ranks of Equity and KCB.
