Cytonn report ranks NBK worst performer in 2015

NAIROBI, KENYA: National Bank of Kenya’s (NBK’s) recent predicaments deepened as a new banking report placed the embattled lender at the tail-end of the 11 listed financial institutions.

The latest Cytonn Investments’ Banking Sector Report for year 2015 placed the mid-tier bank at the bottom of the log following a poor financial performance which saw it register a loss of Sh1.2 billion.  It also scored the lowest on governance among the listed firms.

KCB topped the ranking amid a restrictive macro-environment that saw the whole banking industry struggle to mobile deposits. Equity Bank came second and Diamond Trust Bank maintained the third position,

However, the most improved lender was the I&M bank which moved up 3 places to sit at position four, thanks to its improved operating efficiency and efficient distribution channels.