Banking

Barclays Bank Kenya drops half year profit by 13pc to Sh3.5bn

NAIROBI, Kenya, Aug 15 – Barclays Bank of Kenya (BBK) first half net profit hit Sh3.5 billion a 13 percent shoot compared to Sh4 billion same period 2016 owing to declined revenue in an interest rate capping regime.

The Banks’ total interest income dropped to Sh13.1billion from Sh13.9 billion recorded same period last year while Non-Interest income also recorded a 14 percent decline in the period under review to post Sh4.3billion from Sh5.1 billion same period last year.

Loans and advances, however, hit Sh163.7 billion up from Sh153.3 billion, a 6 percent increase while customer deposits went up to Sh188.6 billion from Sh182.8 billion.

Total Assets stood at Sh268 billion even as revenue continued to decline.

The board of directors has declared an interim dividend of for the year 2017 of Sh0.20 per ordinary share of the company.

“The shares will be paid on or about Friday, 13 October 2017 to shareholders registered at the close of business on Friday 8September 2017,” Management said.

 

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