Family Bank Profits For H1 Up To 1.2 Billion Shillings

By Juma / Published August 25, 2021 | 9:17 am




KEY POINTS

The profits of Family Bank Kenya for the first 6 months of 2021 grew by 83.9 percent to 1.17 billion shillings from 638.47 million shillings posted in a similar period last year, making it one of the largest profits for the bank.


Family Bank

The profits of Family Bank Kenya for the first 6 months of 2021 grew by 83.9 percent to 1.17 billion shillings from 638.47 million shillings posted in a similar period last year, making it one of the largest profits for the bank.

The massive rise in profits for H1 by the lender was 95 percent of the 1.16 billion shillings that Family Bank had posted in the full year ended December 2020. This places the lender on the path of registering good results at the end of the year.

Putting the numbers by Family Bank into perspective, net interest income grew by 25 percent to stand at 3.69 billion shillings coming on the back of the loan book growing 12 percent to 63.98 billion shillings.

At the same time, non-interest income, mainly related to fees and commissions, grew 18.2 percent to 1.52 billion shillings helping the bank to post improved performance in the first half ending June 2021.

Operating expenses rose by 4.6 percent to 3.54 billion shillings partly driven by a 36 percent rise in loan loss provision to 614.9 million shillings.

Read More: KCB Group’s Profit After Tax Doubles To Ksh 15.3 Billion

The results by Family Bank come at a time Kenyan banks are releasing tremendous results in form of profits. For instance, profits for both Equity Bank and KCB Group doubled during the first half of 2021 on the back of the Covid-19 pandemic.

The performance of Family Bank raises prospects of a return of dividends for shareholders.

The board of the bank last year paid 0.24 shillings dividends per ordinary share on the 2019 results. It was the first time since 2015 for shareholders to get dividends. The payout for 2015 was 0.50 shillings totaling 622.59 million shillings.

Read More: Family Bank Bond Subscription Hits 147.3 Percent

Family Bank raised 4.42 billion shillings, an oversubscription of 47.3 percent, from local fund managers, banks, retail investors, insurance companies, and other institutional investors in a bond that they had released on the market.




About Juma

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

View other posts by Juma


More Articles From This Author








Trending Stories










Other Related Articles










SOKO DIRECTORY & FINANCIAL GUIDE



ARCHIVES

2024
  • January 2024 (238)
  • February 2024 (227)
  • March 2024 (190)
  • April 2024 (133)
  • May 2024 (68)
  • 2023
  • January 2023 (182)
  • February 2023 (203)
  • March 2023 (322)
  • April 2023 (298)
  • May 2023 (268)
  • June 2023 (214)
  • July 2023 (212)
  • August 2023 (257)
  • September 2023 (237)
  • October 2023 (266)
  • November 2023 (286)
  • December 2023 (178)
  • 2022
  • January 2022 (293)
  • February 2022 (329)
  • March 2022 (358)
  • April 2022 (292)
  • May 2022 (271)
  • June 2022 (232)
  • July 2022 (278)
  • August 2022 (253)
  • September 2022 (246)
  • October 2022 (196)
  • November 2022 (232)
  • December 2022 (167)
  • 2021
  • January 2021 (182)
  • February 2021 (227)
  • March 2021 (325)
  • April 2021 (259)
  • May 2021 (285)
  • June 2021 (272)
  • July 2021 (277)
  • August 2021 (232)
  • September 2021 (271)
  • October 2021 (305)
  • November 2021 (364)
  • December 2021 (249)
  • 2020
  • January 2020 (272)
  • February 2020 (310)
  • March 2020 (390)
  • April 2020 (321)
  • May 2020 (335)
  • June 2020 (327)
  • July 2020 (333)
  • August 2020 (276)
  • September 2020 (214)
  • October 2020 (233)
  • November 2020 (242)
  • December 2020 (187)
  • 2019
  • January 2019 (251)
  • February 2019 (215)
  • March 2019 (283)
  • April 2019 (254)
  • May 2019 (269)
  • June 2019 (249)
  • July 2019 (335)
  • August 2019 (293)
  • September 2019 (306)
  • October 2019 (313)
  • November 2019 (362)
  • December 2019 (318)
  • 2018
  • January 2018 (291)
  • February 2018 (213)
  • March 2018 (275)
  • April 2018 (223)
  • May 2018 (235)
  • June 2018 (176)
  • July 2018 (256)
  • August 2018 (247)
  • September 2018 (255)
  • October 2018 (282)
  • November 2018 (282)
  • December 2018 (184)
  • 2017
  • January 2017 (183)
  • February 2017 (194)
  • March 2017 (207)
  • April 2017 (104)
  • May 2017 (169)
  • June 2017 (205)
  • July 2017 (189)
  • August 2017 (195)
  • September 2017 (186)
  • October 2017 (235)
  • November 2017 (253)
  • December 2017 (266)
  • 2016
  • January 2016 (164)
  • February 2016 (165)
  • March 2016 (189)
  • April 2016 (143)
  • May 2016 (245)
  • June 2016 (182)
  • July 2016 (271)
  • August 2016 (247)
  • September 2016 (233)
  • October 2016 (191)
  • November 2016 (243)
  • December 2016 (153)
  • 2015
  • January 2015 (1)
  • February 2015 (4)
  • March 2015 (164)
  • April 2015 (107)
  • May 2015 (116)
  • June 2015 (119)
  • July 2015 (145)
  • August 2015 (157)
  • September 2015 (186)
  • October 2015 (169)
  • November 2015 (173)
  • December 2015 (205)
  • 2014
  • March 2014 (2)
  • 2013
  • March 2013 (10)
  • June 2013 (1)
  • 2012
  • March 2012 (7)
  • April 2012 (15)
  • May 2012 (1)
  • July 2012 (1)
  • August 2012 (4)
  • October 2012 (2)
  • November 2012 (2)
  • December 2012 (1)
  • 2011
    2010
    2009
    2008
    2007
    2006
    2005
    2004
    2003
    2002
    2001
    2000
    1999
    1998
    1997
    1996
    1995
    1994
    1993
    1992
    1991
    1990
    1989
    1988
    1987
    1986
    1985
    1984
    1983
    1982
    1981
    1980
    1979
    1978
    1977
    1976
    1975
    1974
    1973
    1972
    1971
    1970
    1969
    1968
    1967
    1966
    1965
    1964
    1963
    1962
    1961
    1960
    1959
    1958
    1957
    1956
    1955
    1954
    1953
    1952
    1951
    1950