National Bank of Kenya has issued a profit warning saying that its 2015 profit will be at least 25 per cent lower than the previous year.
The bank has cited bad loans as the cause for dropped earnings. “NBK’s earnings for the year ended 31st December 2015 will be at least 25 per cent lower than that reported in the year ended 31st December 2014,” it said in a statement.
In the 2014 financial period, NBK’s full year profits stood at Sh870.7 million compared to Sh1.1 billion in 2013.
