Absa Bank Kenya reports 47% fall in 2020 pretax profit on impairments

NAIROBI (Reuters) - Absa Bank Kenya on Tuesday reported a 47% drop in 2020 pretax profit to 5.6 billion Kenyan shillings ($51 million) from 10.8 billion reflecting higher impairments due to effects of the pandemic.

Impairments rose to 9 billion shillings from 4.2 billion, it said.

($1 = 109.75 Kenyan shillings)

(Reporting by George Obulutsa; editing by Jason Neely)