KenGen’s impairment allowance rose sharply from Sh774.71 million in the previous year, highlighting the impact of delayed payments from both commercial and non-commercial customers.
By Maureen KinyanjuiThe lender’s net profit rose to Sh21.56 billion, up 12.3 percent from Sh19.21 billion in the same period last year, driven by increased earnings from lending activities.
By Maureen KinyanjuiOperational efficiency improved, lowering the cost-to-income ratio from 55.1 percent to 50.6 percent, while asset quality remained strong with non-performing loan coverage at 71.4 percent and a contained cost of risk of 1.9 percent.
By Maureen KinyanjuiThe profit climbed from Sh2.51 billion in the same period last year, supported by a 32.6 percent increase in insurance service revenue to Sh16.68 billion, up from Sh12.58 billion.
By Maureen Kinyanjui