NBK posts Sh177m full-year profit

NBK Managing Director Paul Russo

National Bank of Kenya (NBK) has posted Sh177 million in profit after tax for the year ending December 31, 2020.
This represents a 167 per cent growth from the previous year, driven by an increase in loan volumes and lower operating costs, even as the Bank battled the impact of the COVID-19 pandemic.

The Bank’s corporate and retail franchises remained resilient in the subdued economy with reduced activity across sectors. During the period, NBK rolled out a raft of interventions to cushion customers from the effects of the pandemic for the continuity of their businesses and a reprieve from the financial strain. The Bank restructured loans to the tune of over Sh7 billion and waived fees on digital channels.