KCB Bank Group Chief executive officer Joshua Oigara. KCB Group recorded a 43 percent drop in net profit during the nine months period ended September 30, 2020. PHOTO | FILE | NMG
KCB Group recorded a 43 percent drop in net profit during the nine months period ended September 30 owing to the Covid-19 pandemic that hurt banking transactions and fuelled a significant jump in bad loans and loan loss provisions.
The lender, which has operations in Kenya, Uganda, Tanzania, Rwanda, Burundi and South Sudan, recorded a net profit of Ksh10.89 billion ($108.9 million) compared to Ksh19.16 billion ($191.6 million) in the same period last year.
