For those who have been preaching how the Kenyan economy has been dying, please come and see this.
joto la jiwe and
Geza Ulole .
In 2020, Kenya went into lockdown but Tanzania didn`t attempt such a thing. With that logic, Tanzanian banks should be performing better than Kenyan banks since they were working and going on with their daily business. But to my surprise, Kenyan banks performed better than Tanzanian banks by a big margin. In fact, one Kenyan bank scooped more profits than what all the Tanzanian banks got.
Half-year results of KCB Bank were
7.6 billion Kenyan shillings https://kcbgroup.com/wp-content/upl...p-PLC-Press-Release-Q2-2020-Results-Final.pdf,
KCB bank half-year profit tumbles by 40 pc , this is more than what CRDB Bank(
Tsh33.5b), NMB Bank(
Tsh44.8b), National Bank of Commerce (NBC)(
Tsh3.39b), Stanbic Bank(
Tsh20.4b), Standard Chartered(
Tsh6.25b), Absa(
Loss of Tsh3.4b), Diamond Trust Bank(
Tsh4.2b), Exim Bank(
Tsh4.1b), Azania Bank
(Loss of Tsh247m) and the latest member in the industry, TPB Bank(
Tsh3.7b) got all together which was
5.87 billion Kenyan shillings or 125.44 billion Tanzanian shillings.
Tanzania: Top Tanzanian Banks' Profits Up Despite Covid-19 Pandemic