Tier three lender Jamii Bora Bank Limited has reported a loss of Ksh 167.4 Million for the period ended 31st Dec 2016 compared to a profit of Ksh 17.7 Million in 2015.
Major Highlights
- •Total Interest Income grew from Sh 1.88 Billion to Sh 2.16 Billion.
- •Net Interest Income fell by Sh 11 Million to Sh 721.5 Million.
- •Total Operating Income rose to Sh 1.3 Billion compared to Sh 1.14 Billion in 2015.
- •Total Operating Expenses increased by 62% from Sh 1.1 Billion to Sh 1.8 Billion as Loan Loss Provision more than doubled to Sh 313 Million from Sh 138 Million.
- •Customer Deposits Fell By 26% to sh 8.07 Billion from Sh 10.93 Billion in 2015.
- •Gross Non Performing Loans shot up by 175% to 2.14 Billion from Sh 778 Million in FY 2015.
- •Total Insider Loans Declined to Sh 585 Million from Sh 664 Million in 2015