Commercial banks in the Kenya Airways #ticker:KQ debt restructuring deal may have lost an equivalent of eight per cent of their annualised net profit as estimated from the half-year results, analysts at credit rating firm Moody’s have said.
Citing loan loss provisions, longer maturities and reduced interest rates as the key factors in the reduction in profitability, the analysts said the most negatively affected will be National Bank of Kenya #ticker:NBK.
