Kenya’s banking sector pre-tax profit hits 78.5pc in 2021

Commercial lenders saw their pre-tax profit jump to 78.5 percent in 2021 as the economy recovered from the Covid-19 scourge.

The Central Bank of Kenya’s (CBK) annual report for 2021, says profit before tax hit 197 billion shillings compared to 121.7 billion shillings in a similar period in 2020. 

CBK Governor Patrick Njoroge said the banking sector asset base grew by 11 percent to 6 trillion shillings in 2021 from 5.4 trillion in 2020.

According to the report by Kenya’s Apex bank,…