Rafiki Microfinance Bank, a subsidiary of the troubled Chase Bank, has reported a Sh297.6 million full-year loss attributed to increased provisioning for doubtful loans and unrealised interest income from deposits locked at its principal shareholder.
The micro-lender, which posted a net profit of Sh29.4 million the previous year, saw its earnings impacted by loan loss provisions of Sh237.8 million-- which steeply rose from Sh82.6 million the previous year.
