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KCB spent Sh2 billion to retire 316 employees

Kenya Commercial Bank of Kenya CEO Joshua Oigara (PHOTO: FILE)

NAIROBI, KENYA: Kenya Commercial Bank of Kenya (KCB) used Sh2.02 billion to send 316 employees into early retirement in bid to trim staff costs.

This is about the same amount of money that the top bank by asset base said it hopes to start saving annually after this one-off cost.

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