Barclays Bank Kenya Q3 earnings rises just by 3% to Ksh 6.4 Billion, blames Market Volatility

Barclays Bank Kenya reported a mere 3 percent jump in its Q3 earnings to Ksh 6.4 Billion compared to last years Q3 earnings of Ksh 6.4 Billion.The results are not impressive comparing to other lenders who reported better Q3 earnings.

Barclays Bank kenya CEO Jeremy Awori

Highlights From Barclays Bank Q3 Earnings

-Net interest income increased by 500 Million to Sh 15.2 Billion compared to last year’s  Ksh 14.7 Billion

– Growth Contributed by its retail and SME segments.

-Total operating income rose to Ksh 21.7 Billion.

“The last nine months have been characterized by turbulence at the macroeconomic level arising from fluctuation of the local currency and high interest rates. This has had an impact on the bank’s interest expense line and Mark to Market loss on the trading book,” Read the financial; statement