KCB profit falls 43pc on Covid-19 defaults

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KCB branch along Mama Ngina Street in Nairobi. PHOTO | DENNIS ONSONGO | NMG

KCB Group #ticker:KCB has reported a 43.1 per cent net profit drop in the nine months ended September, weighed down by a sharp increase in provisions for coronavirus-related defaults.

The country’s biggest bank by assets posted net earnings of Sh10.8 billion in the review period compared to Sh19.1 billion the year before.

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