Losses at regional subsidiaries eroded the earnings of NCBA Group #ticker:NCBA in the year ended December when the bank relied on its Kenyan operation for 99 percent of its consolidated net income.
The Kenyan business made a net profit of Sh11.7 billion in the review period while Tanzania and Uganda reported net losses of Sh1.1 billion and Sh483.2 million respectively. Rwanda was the only other market to make a net profit of Sh83.3 million.
