Mixed bag for lenders as KCB, IM half-year earnings drop

KCB Group Chief Executive Paul Russo during the release of first quarter 2023 financial results. [File, Standard]

Local lenders continue to register mixed results in their half-year performance amid a tough operating environment.

KCB Group's half-year earnings to June 2023 fell 18.27 per cent to Sh16 billion, attributed to higher operating costs, which increased from a year earlier.

This came as I&M Bank said its earnings declined marginally by two per cent to Sh7 billion on the back of higher loan loss provisions.