CFC Stanbic Q3 Profits Plunge by 33.6%

EARNINGS RELEASE

Kenya’s CFC Stanbic has reported a 33.6% decline in Q3 profits after tax attributed to decline in non-interest income.

The lender has recorded Ksh 2.7 Billion Q3 Profit After Tax against last  year’s Q3 Profits of Ksh 4.1 Billion.

-Loan book grew by Ksh 18 Billion to Ksh 104 Billion

-interest income up by 20% to Ksh 8.6 Billion.

-Non-interest income was down to Ksh 4.8 Billion compared to 2014’s 6.2 Billion.

-Customer deposits grew by Ksh 14 Billion to Ksh 113 Billion.

-Interest expenses up by 68%

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