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NBK net profit sinks to Sh138mn as rate caps bite

National Bank managing director and CEO Wilfred Musau (left) and Chairman Mohamed Abdirahman Hassan during the lender's AGM on May 19, 2017. PHOTO | DIANA NGILA | NMG

By  KEVIN MWANZA

National Bank of Kenya's (NBK) #ticker:NBK after-tax profit plunged 73.5 per cent in the nine months to September after its interest income from loans was halved.

NBK’s net earnings dropped to Sh138 million from Sh521 million in a similar period last year, as a rate capping law regime slashed its earnings from loan interest by half to Sh3.77 billion.

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

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