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Loss making season hit lenders without recovery plans

Wilfred Kiboro, Family Bank Board Chairman (Middle)

NAIROBI, KENYA: Banks need a turnaround plan as small lenders posts losses and decline in profits amid reduced loans to customers under the rate cap regime.

National Bank made Sh7 million net profits in the 12 months to December last year a 98 per cent fall from Sh410 million in 2017.

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