African Markets Daily

South Africa’s Absa Group and Kenya’s KCB sound off profit warnings.


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Absa Group first half-year earnings negatively affected by the coronavirus. Bad loans quadrupled, and profits could plunge by up to 97% as a result. Kenya’s biggest lender after-tax profit fell 40% to $70.1 million, while pretax profit also decreased by 28%.

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African Markets DailyBy African Markets Daily