(3 minutes read)
The Central Bank of Kenya (CBK) said that operations in Rwanda contributed the highest volume of profit earnings for Kenyan bank subsidiaries in East Africa and beyond last year
The Central Bank of Kenya (CBK) said that operations in Rwanda contributed the highest volume of profit earnings for Kenyan bank subsidiaries in East Africa and beyond last year
The CBK said the regional subsidiaries of Kenyan banks posted a combined pre-tax profit of Sh32.51 billion as of December 31, 2022. It is an increase of 88.65 percent from KSh17.23 billion reported on December 31, 2021.
Read Also:
https://trendsnafrica.com/japanese-premier-in-kenya-urges-strengthening-economic-cooperation/
https://trendsnafrica.com/kenya-developing-medical-tourism-to-take-on-countries-like-india/
Rwanda contributed the highest earnings capacity recording KSh.10.16 billion in profits. It translates to 31.26 percent of the total profits. Subsidiaries operating in DRC (Democratic Republic of Congo) and Uganda contributed 30.10 percent and 16.11 percent of the total profits respectively. Subsidiaries in South Sudan contributed 14.28 percent of the total profits, according to reports by the bank.
