Kinshasa. The DRC market contributed the highest proportion of the total earnings by Kenyan banks’ regional subsidiaries, equivalent to 45.52 percent (Ksh30 billion -- $229 million). Shutterstock
The Democratic Republic of Congo (DRC) has overtaken Rwanda as the most profitable market for subsidiaries of Kenyan banks within the East African Community (EAC), highlighting the opportunities in the mineral-rich Central African nation.
Latest data by the Central Bank of Kenya (CBK) shows that the pre-tax profit realised in the DRC market by subsidiaries of Kenyan banks more than doubled to Ksh66.13 billion ($504.81 million) in 2023, from Ksh32.51 billion ($248.17 million) in 2022.
