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Banks post Sh262bn pre-tax profit on high loan rates
Banks achieved the higher profitability even as lending to the private sector contracted by 1.4 percent in the review period, underlining the impact of the repricing of existing credit facilities.
Commercial banks set a new record pre-tax profit of Sh262.3 billion in 2024, buoyed by high lending rates and income from government securities, new disclosures from Central Bank of Kenya (CBK) shows.
The performance signals a bigger headroom for banks to reward their shareholders with enhanced dividend payouts.
