(Last Updated On: August 11, 2015)
Kenya’s mid-tier lender Family Bank reported a 34.9% rise in net profit for the first half of 2015. The is mainly due to increased lending and foreign exchange trading. The net profit stood at Ksh1.18 billion which is higher than the Ksh875 million reported last year.
Net interest increased by 36.8 percent to Ksh4.5 billion while loan book grew by 39.4 percent to Ksh46 billion up from Ksh33 billion in 2014. Customer deposits grew by 47.5 percent to Ksh59 billion from Ksh40 billion. Income from foreign exchange went up by 224% to Ksh175 million from 54 million.