The Covid-19 pandemic provides banks with a unique opportunity to build trust and exhibit strength, says latest report by the PricewaterhouseCoopers (PwC). Dubbed ‘Impact and opportunities of Covid-19 on Kenya’s banking industry, customers are monitoring banks decisions on interest and non-funded income, staff and other expenses, impairment and liquidity. The report notes that Covid-19 pandemic is a threat as well as an opportunity to demonstrate the exceptional ingenuity and problem-solving capabilities within Kenya’s banking industry. The report by PwC is coming just weeks after local banks announced their full year results, which saw significant drop in earnings due to high loan provisions and other Covid-19 dynamics. ''We continue to actively engage our customers to support them through this period, by re-aligning the servicing of facilities, funding and transactional needs as the situation unfolds,'' Co-op Bank Group MD Gideon Muriuki said.

Source: The Star April 26, 2021 00:56 UTC