Banks operating in Kenya and other African countries are the second most profitable globally after those in Latin America, a new report by consultancy McKinsey says.
Banks operating in Africa had an average return on equity (ROE) — a measure of profitability — of nearly 15 per cent last year. Those in Kenya registered a higher figure of 24.6 per cent on average on the basis of data from 2016, the year when a law capping interest rates was passed.
