State banks bleed as privatisation beckons

Consolidated Bank has been earmarked for sale.

State lenders continued on a troubled streak for most of this year, losing money even as the government eyes privatisation of the banks.

National Bank of Kenya (NBK) saw an 84 per cent decline in net profits for the nine months to September to Sh21 million from Sh138 million at a similar period last year, while forking out Sh2.9 billion to pay its staff.