Kenya Commercial's Rwanda Unit Posts First-Half Loss, New Times Reports

Kenya Commercial Bank Ltd.’s Rwandan unit posted a loss of 69 million Rwandan francs ($117,581) in the six months through June, New Times reported, citing Managing Director Maurice Torotich.

The loss is attributable to start-up capital invested by the lender, the Kigali-based newspaper said.

Kenya Commercial opened branches in Rwanda in 2008.

To contact the reporter on this story: David Malingha Doya in Kigali via Johannesburg at pmrichardson@bloomberg.net.

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