Photo credit: Kenyan banks reviving hopes of making profits in South Sudan Photo source: Daily Nation
Kenyan banks now have an optimistic approach for operations in South Sudan that can turnaround after years of mixed performance weighed down by political unrest, hyperinflation, currency devaluation and shortage of foreign currency. Analysts say that the operations for KCB, Equity, Co-operative and Stanbic Bank have started to rekindle after several years of making losses.
The war was started in 2013 and has ended now which has led to huge losses of assets, loss of revenue and hyperinflation, which resulted in banks reporting monetary losses due to reassessment of assets and liabilities. The 4 banks which are listed on the Nairobi Securities Exchange have performed and characterised by losses, declining profitability, scaling down of operations and closure of branches.
Data source: Daily nation
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