Equity Analysis /
Kenya

Kenya Banks: Sector Q3 21 PBT jumps 68% yoy, and outlook for Q4 is positive too

  • Asset quality continues to improve with industry NPL now at 13.6% in Q3 21; outlook for Q4 points to further improvement

  • There continues to be a notable increase in credit demand but low rates keep credit growth lower than expected

  • KCB remains our top pick in Kenya banks – we have a target price of KES54

Kenya Banks: Sector Q3 21 PBT jumps 68% yoy, and outlook for Q4 is positive too
Faith Mwangi
Faith Mwangi

Equity Research Analyst, Financials (East Africa)

Tellimer Research
22 November 2021
Published by