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The Standard e-Paper
Kenya's Bold Newspaper
The Standard Group Plc is a
multi-media organization with investments in media platforms spanning newspaper
print operations, television, radio broadcasting, digital and online services. The
Standard Group is recognized as a leading multi-media house in Kenya with a key
influence in matters of national and international interest.
A regulatory directive to classify loans correctly forced banks to set aside money for Non-Performing Loans (NPL), resulting in lower profits in the third quarter.
NIC Bank recorded a five per cent dip in net earnings after setting aside Sh3.1 billion for NPLs. The bank reported a Sh3.4 billion after-tax profit for the period ending September 30, 2016 compared to Sh3.6 billion last year.
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