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Moody’s upgrades outlook for Kenyan banks on interest rates fall
While assessing the sector’s overall outlook, Moody’s also specifically rated the top banks at Caa1 with a positive outlook for their credit and deposits.
Ratings agency Moody’s has upgraded its outlook for Kenyan banks, citing improved macro-economic conditions in the country including the stable shilling and falling interest rates.
The agency says banks’ profitability will drop but remain strong this year, as the industry adjusts to lower lending margins, returns on government securities and higher provisions for bad loans.
