Co-operative Bank Managing Director Gideon Muriuki during
the bank’s virtual AGM hosted on 22 October this year.

| Pool | Nation Media Group

What Covid-19 reveals in local banks

What you need to know:

  • Top banks—KCB, Equity, Cooperative Bank, Absa, Stanbic, DTB and Standard Chartered Bank of Kenya—saw a combined Sh22.56 billion decline in profitability in the nine months to September.
  • Many lenders such as NCBA are now expecting huge declines in full year earnings while just a few project a modest fall.

Covid-19 has exposed the hidden difference in ability of commercial banks to absorb shocks, majorly on account of the business models and kind of customers they deal with.


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