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The Standard e-Paper
Kenya's Bold Newspaper
The Standard Group Plc is a multi-media organization with investments in media
platforms spanning newspaper print operations, television, radio broadcasting,
digital and online services. The Standard Group is recognized as a leading
multi-media house in Kenya with a key influence in matters of national and
international interest.
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Two of Kenya's biggest banks have now collectively collected a yearly profit drop of more than Sh6 billion as concerns about an economic slowdown and higher defaults among businesses mount.
Equity Group, Kenya's biggest bank by asset base, said yesterday its net profit for the year ended December 2023 fell by Sh2.91 billion or 6.5 per cent to Sh41.98 billion after the lender doubled its provisioning for bad loans in the period.
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