Regional lenders mint $228m profit from DRC, Rwanda and Tanzania
CBK disclosures showed that the pre-tax profit realised by regional subsidiaries of Kenyan banks more than doubled to Ksh66.13 billion in 2023 from Ksh32.51 billion in 2022.
The Democratic Republic of Congo (DRC), Rwanda and Tanzanian markets offered a profitable ground for Kenya’s retail banks cashing in on regional operations to bolster their incomes amid surging bad loans at home.
Audited financial statements shows KCB, Equity, NCBA and I&M groups generated a combined $228 million in profit from their subsidiaries from the three countries during the financial year ended December 31, 2014, their highest earnings compared with those from other regional markets, Uganda, Burundi and South Sudan.
