Commercial banks are making nearly Sh1 billion daily in profits this year, reaping the benefits of cost-cutting and renewed demand for credit in a recovering economy.
The lenders booked a pre-tax profit of Sh97.4 billion in the first five months of this year, Central Bank of Kenya (CBK) data shows, translating to Sh910 million daily for each working day—based on a five-day week with light weekend transactions on Saturday when the lenders open for half the day.
