Tanzania is most profitable for Kenyan bank subsidiaries
To mitigate health and sanitation challenges of coronavirus, banks urged customers to use mobile and digital transactions, and then waived transactional fees which has further shrunk their revenues and compounded their problems. PHOTO FILE | NMG
The Tanzanian market has emerged as most favourable for subsidiaries of Kenyan banks in East Africa, accounting for 35.1 per cent of the total profits drawn from their regional presence.
The latest Central Bank of Kenya Banking Surveillance Report shows that the subsidiaries in Rwanda accounted for 21.29 per cent of the total profits while those in Uganda accounted for 12.64 per cent of the $1.45 billion profits Kenyan banks posted last year.
