Mobile lending platform boost non-interest revenue with non-branch revenue rising 126% yoy to KES12bn
As expected, NBK inclusion results in higher NPLs, higher costs and lower cost of funds
Reiterate Buy, TP KES54.00 on higher margins and loan book growth outlook
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This report is independent investment research as contemplated by COBS 12.2 of the FCA Handbook and is a research recommendation under COBS 12.4 of the FCA Handbook. Where it is not technically a research recommendation because the subject of the research is not listed on any European exchange, it has nevertheless been treated as a research recommendation to ensure consistent treatment of all Tellimer's research. This report has been produced by the analyst(s) named above (the "Analyst").
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