{
  "id": 18953761,
  "title": "The Next Wave: Kenyan banks have forgotten how to lose money",
  "url": "https://urgent.news/2026/11/08/the-next-wave-kenyan-banks-have-forgotten-how-to-lose-money",
  "topic": "business",
  "section": "Business",
  "published": "2026-11-08T14:11:50.000Z",
  "source": {
    "name": "TechCabal",
    "slug": "techcabal",
    "url": "https://techcabal.com/2026/11/08/next-wave-no-bad-year-for-kenyan-banks/"
  },
  "original_language": "en",
  "account": "Kenyan banks have defied economic challenges, maintaining robust profits despite the struggles of their borrowers. Over the past five years, no tier-1 bank recorded a net loss. Instead, their combined pre-tax profits surged, with NCBA Group witnessing a whopping 409% increase in profit after tax. Despite record profits, banks remain cautious, as lending to high-risk borrowers can be complex and costly. Roughly three-quarters of potential borrowers never apply for loans due to rejection fears, collateral issues, or high costs. Those who apply face high approval rates, but banks are now diversifying their strategies. They're increasingly investing in consumer payments, partnering with mobile telecom networks for services like Safaricom's Fuliza overdraft facility. This approach has proven lucrative, with Fuliza generating significant revenue and contributing to a substantial portion of Safaricom's credit portfolio revenue.",
  "summary": "Kenya’s biggest banks continue to post record profits as small businesses struggle to access credit. A closer look at lending risks, mobile loans, and the business of banking reveals why.",
  "key_points": [
    "Kenyan banks have consistently posted profits for five years.",
    "NCBA Group's pre-tax profits increased by 409%.",
    "Banks diversify by investing in consumer payments and mobile partnerships."
  ],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}