Kenya’s listed banks raised their provisions for bad debt by 46 percent to Sh69 billion, a move that contributed to slowing down their earnings in the nine months ended September.
The institutions –Equity Group, KCB Group, Co-operative Bank of Kenya, NCBA Group, DTB Group, I&M Group, Absa Bank Kenya, Standard Chartered Bank Kenya, HF Group and Stanbic Bank (the main subsidiary of Stanbic Holdings)— had combined provisions of Sh69 billion in the review period.
