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Banks’ value takes coronavirus beating

Jamii Bora bank situated along Koinage Street. Nairobi. [Edward Kiplimo, Standard]

The banking sector continues to suffer the effects of the coronavirus pandemic, with several key indicators registering a decline.

A banking sector report for the first quarter released by Cytonn Investment this week shows banks recorded a 7.4 per cent average decline in core earnings per share, compared to a growth of 12.2 per cent in a similar period last year.

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