However, the bank, which has operations in Kenya, Uganda, Tanzania, Rwanda, Burundi and South Sudan, says its growth outlook in the whole of this year is not promising largely due to the expected impact on revenues by the Covid-19 pandemic.
The pandemic has seen lenders resort to loan restructuring to cushion borrowers from economic hardship, with governments implementing stringent measures to curb the spread of the disease including restriction of movements and adoption of cashless transactions.
Market analysts, however, expect the bank, the biggest in the region by assets and branch network, to weather the economic storm largely due to its strong capital buffers and liquidity position.
TOUGH TIMES
Lenders in Kenya have warned that a raft of measures adopted to cushion Kenyan borrowers from the effects of the coronavirus pandemic could push them into a loans crisis.
The Central Bank of Kenya issued guidelines that compel lenders to re-negotiate loan repayment terms with borrowers, including payment holidays and penalty waivers.
