The cumulative pre-tax profit of commercial banks for the three months ended March remained flat compared to last year, marking the first time since the Covid-19 pandemic that the sector has failed to register growth, underlining the current tough economic environment.
Data from the Central Bank of Kenya shows that the lenders’ cumulative pre-tax profit for the first quarter of the year was Sh73.5 billion, equalling the amount posted over the same period last year. The performance is limited to the banks’ operations in the Kenyan market.
