Regional lenders slake govts’ appetite for short-term funds
A review of the unaudited financial statements for KCB, Equity Bank, Cooperative Bank, NCBA and Diamond Trust Bank (DTB) shows increased revenues derived from investment in government securities. PHOTO | FILE | NMG
East Africa’s top retail banks are cashing in on interest income on government securities and readjustment of loan loss provisions to crawl back to profitability in the midst of the third wave of Covid-19 pandemic that is impacting banking transactions and loan books.
A review of the unaudited financial statements for KCB, Equity Bank, Cooperative Bank, NCBA and Diamond Trust Bank (DTB) shows increased revenues derived from investment in government securities during the three months period to March 31, with non-funded (non-interest) income from banking transactions, save for Equity bank, declining across the board.
