Bank subsidiaries surpass last year’s profit in the half to June Rawlings Otini
Publication details: Nairobi Nation Media Group 2012Description: p.8 Business Daily (November 5, 2012)Subject(s): Online resources: Summary: Kenya’s largest banks have slowed down their local expansion in the past two years, turning focus to the regional market where financial services are largely underdeveloped. The large market under the East African Common Market protocol has boosted cross-border trade, with the lenders betting on their regional networks to increase earnings from trade finance, forex, and other deals. Regional subsidiaries broke even last year after returning sluggish performance in the past four years and are now expected to support the parent companies’ growth.
Kenya’s largest banks have slowed down their local expansion in the past two years, turning focus to the regional market where financial services are largely underdeveloped.
The large market under the East African Common Market protocol has boosted cross-border trade, with the lenders betting on their regional networks to increase earnings from trade finance, forex, and other deals.
Regional subsidiaries broke even last year after returning sluggish performance in the past four years and are now expected to support the parent companies’ growth.
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