Equity Analysis /
Kenya

Kenya banks: Profit before tax up 97% yoy in first two months of Q2

  • Earnings likely driven by lower cost of risk, higher non-interest revenue, lower costs and flat net interest margin

  • Balance sheet growth showing positive momentum with deposits up 12% yoy and loans up 6% yoy in May 2021

  • Asset quality still a concern with NPL ratio at 14.2% in May, but lower than regulator’s expectation of 16% in June

Kenya banks: Profit before tax up 97% yoy in first two months of Q2
Faith Mwangi
Faith Mwangi

Equity Research Analyst, Financials (East Africa)

Tellimer Research
16 August 2021
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