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KCB profit falls to Sh19.6bn on increased bad loans provision

KCB-1703-sb

KCB Group CEO Joshua Oigara (right) Chairman Andrew Kairu (centre) and Group CFO Lawrence Kimathi during the release of the full-year result. PHOTO | POOL

By  Victor Juma

Business Editor

Nation Media Group

KCB Group’s net profit declined 22 per cent to Sh19.6 billion in the year ended December on the back of increased provisions for coronavirus-related defaults.

The Nairobi Securities Exchange-listed firm had reported net earnings of Sh25.1 billion the year before.

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Note: The results are not exact but very close to the actual.

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