Kenya: NCBA profit slumps 42% to Sh4.57bn
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NCBA Grouphas posted the third biggest drop in profit among Tier I banks as lenders were forced to raise provisions for loan defaults in the wake of Covid-19 -induced economic difficulties facing borrowers.
1M | 3M | YTD | 1Y | 2Y |
-2.97% | -3.07% | +19.01% | +2.45% | -12.26% |
Value Traded (Mln KES) 86.75 |
Volume 6,479,300 |
Transactions - |
Market Cap. (Bln KES) 1,625.98 |
NCBA Grouphas posted the third biggest drop in profit among Tier I banks as lenders were forced to raise provisions for loan defaults in the wake of Covid-19 -induced economic difficulties facing borrowers.
Equity Group shareholders will go for the second consecutive year without dividends after the board on Monday froze the payout as net profits fell 11.6 per cent to Sh20 billion.
Stocks listed on the Nairobi Securities Exchange (NSE) lost Sh80.02 billion of their value yesterday as foreigner sold off shares in blue-chip firms over the new lockdown, making it one of single-largest drops in a day in the bourse’s history.
The Nairobi Securities Exchange has reported a 109% increase in net profit for the year that ended in December 2020. Its profit after tax increased to KSh167.9 million at the end of last year, from KSh80.2 million in 2019, despite a 5% drop in revenue.