Barclays Bank Kenya Q1 2016 net profit up 3.1%

Barclays Bank kenya CEO Jeremy Awori
Barclays Bank kenya CEO Jeremy Awori

Barclays Bank Kenya published its Q1 2016 results on Monday morning posting a 3.1% increase in profit after tax of KES 2.18 billion.

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Highlights

Earnings Per Share (EPS) was up by 2.5% to KES 0.40 compared to KES 0.39 of Q1 2015.

Net interest income was up by 5.4% to KES 5.4 Billion but interest expenses was up 33.6% with interest income up 9.9%.

The Bank’s Loan book grew by 21.7% while customer deposits grew 8.3%.

Non-funded income increased by 15.4% as transactional income increased 17.7%.

Total operating income increased 8.4% to KES 8 Billion as expenses sprung 16.4% to KES 4.9Billion.

Loan loss provision surprisingly increased by 127.3%  to KES 797.7 Million as NPL ratio increased by 30bps to 4.9%.

Gross Non Performing Loans grew 30.4% to KES 7.9 Billion.

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