Edition:
United Kingdom

National Bank Of Kenya Sees FY Earnings To Be At Least 25 Pct Lower Than Last Year


Tuesday, 26 Mar 2019 

March 26 (Reuters) - National Bank of Kenya Ltd ::SEES EARNINGS FOR FY ENDED 31 DEC 2018 TO BE AT LEAST 25% LOWER THAN THAT REPORTED IN YEAR ENDED 31 DECEMBER 2017.SEES LOWER FY EARNINGS DUE TO INCREASED LOAN IMPAIRMENT CHARGES BEYOND INITIAL PROJECTIONS.SEES LOWER FY EARNINGS DUE TO ONE OFF RESTRUCTURING COST (VOLUNTARY EARLY RETIREMENT PROGRAM).FULL BENEFIT OF RESTRUCTURING (VOLUNTARY EARLY RETIREMENT PROGRAM) WILL BE REALIZED IN 2019.CONFIDENT THAT INITIATIVES TO GROW BUSINESS, REDUCE NON-PERFORMING LOANS, CONTAIN COSTS TO ENSURE IMPROVED 2019 PERFORMANCE.