Family Bank’s net profit in the first half of 2019 went up to KSh364 million, a 259 per cent improvement from KSh101 million booked in a similar period in 2018.
The big jump was mainly driven by increased revenue from interest and non-interest income and a slight dip in operating expenses.
The bank increased its customer deposits by 13 per cent from KSh47.8 billion in the first half of 2018 to KSh54 billion in 2019. Similarly, loans and advances went up by 6.5 per cent to reach KSh46.7 billion.
Family bank credits its digital lending service for the enhanced loans uptake.
