Family Bank Today reported a Ksh 2.6 Billion profit before taxes in Quarter Three attributed to increased lending from the SMEs.Family Bank,which trades in OTC said that its loan book grew from Ksh 37.9 Billion to Ksh 52.8 Billion.
The bank said that the impressive earnings were as a result of soaring growth in deposits and higher transaction income.
“The growth was buoyed by a significant jump in net interest income to slightly over Ksh 5 Billion from Ksh 3.9 Billion as a result of an expanded loan book which grew by 39 per cent,” Family Bank said in its Financial Statement.
Family Bank wants to strengthen its capital base through a bond issue and recently raised Sh2 Billion from the Bond market and its already trading at the Nairobi Securities Exchange.
The bank’s first tranche of its Sh10 billion bond issue sought to raise Sh4 billion but its management was upbeat of an oversubscription and indicated it was prepared to accept Sh2 billion more through the green shoe option.
(Source Family Bank)
