Barclays Bank of Kenya Ltd has reported a profit after tax of 5.4 billion shillings for the period ended 30 September 2018.
According to the lender, the bank realized an operating profit of 10.5 billion shillings, a growth of 5 percent compared to a similar period last year.
The performance in the third quarter, according to Barclays, was mainly attributable to a 6 percent growth in total income but was partially offset by growth of 6 percent and 21 percent in costs and impairment, respectively.
Customer deposits grew by 10 percent to 220 billion shillings with transactional accounts constituting 66 percent of the total deposits.
The Consumer Banking and Business Banking segments recorded double-digit growth year on year.
Net Customer Loans was up 7 percent to close at 178 billion shillings driven products across the board that recorded a strong growth year on year performance.
The Bank’s deployment of excess funding was underpinned by investment in government securities & dealing securities book which increased to 103 billion shillings
In what seems a result of successful investments and execution of their growth strategy, total income increased by 6 percent to 23.9 billion shillings, with non-funded income up 14 percent year on a year-to-year basis.
Barclays Bank’s capital and liquidity ratios remain strong with sufficient headroom above the regulatory requirement; total capital adequacy ratio at 17.1 percent and liquidity reserve position at 39.9 percent against the regulatory limits of 14.5 percent and 20 percent respectively.
“In conclusion, Barclays Kenya is well positioned for the future as underpinned by our new 5-year strategy which is focused on driving Growth, Transformation, and Returns. We would like to thank all our stakeholders for the support in the year