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%