East Africa’s biggest bank by assets KCB Group #ticker:KCB plans to shut down some of its branches in South Sudan, citing civil strife, devaluation of the country’s currency, and hyperinflation which negatively impacted the lender’s earnings last year.
KCB, which has 19 branches in South Sudan, now wants to cut its exposure in Africa’s newest nation where the bank took a Sh3.4 billion hit due to hyperinflation in 2016.
