National Bank of Kenya Profit Before Tax Falls From 3.22 Bn to 744.3 Mn

0

The National Bank of Kenya has released its unaudited financial results for the nine-month period that ended September 30th 2016 recording a profit before tax of 744.3 million shillings from the 3.22 billion shillings recorded last year at the same time.

During this period, the lender has registered a total interest income of 10.3 billion shillings as compared to the 9.75 billion shillings that was recorded in 2015 at the same time with the net interest income coming in at 6.58 billion shillings, up from 5.70 billion shillings recorded the previous year at the same time.

The total non-interest income for the lender stood at 1.9 billion shillings as compared to 3.0 billion shillings recorded last year at the same time while the total operating income on the other hand dropped from 8.74 billion shillings to 8.44 billion shillings.

The total operating expenses increased from 5.57 billion shillings last year to 7.70 billion shillings this year for the period under review. The lender said that the profit before tax for the nine-month period had dropped from 3.22 billion shillings to 744.3 million shillings this year. Profit after tax according to a statement from the bank dropped from 2.22 billion shillings last year to 521.0 million shillings this year.

According to the statement, the total comprehensive income for the year (September 30th) dropped from 1.999 billion shillings to 524.2 million shillings while the earnings per share have dropped from 7.22 shillings to 1.69 shillings.

Total non-performing loans and advances for the lender have grown from 6.11 billion shillings to 26.15 billion shillings for the period under review, the loan loss provision has increased from 574.59 million shillings to 5.26 billion shillings while the net non-performing loan exposure has grown from 5.53 billion shillings last year to 20.89 billion shillings this year.

Total insider loans, advances and other facilities dropped from 5.57 billion shillings last year to 4.32 billion shillings this year while the core capital for the lender has dropped from 11.36 billion shillings to 10.16 billion shillings.

 

 

Share.

About Author

Juma Fred

Juma Fredrick is an enthusiastic journalist who believes that journalism has power to change the world either negatively or positively depending on how one uses it. You can reach him on: (020) 528 0222 or Email: info@sokodirectory.com