Family Bank Limited posted an increase in net profit to KSh 733.1m at the end of March this year compared to KSh 510.2m over the same period last year, a growth of 43.7%.
Its balance sheet size grew from KSh 94.8 billion to KSh 122.3 billion during the period under review.
Family Bank loan book size
Net loans and advances to Family Bank customers grew from KSh 61.3 billion to KSh 72.6 billion, while customer deposits rose from KSh 72.6 billion to KSh 89.4 billion.
Total Shareholders’ Equity, what owners of the bank will get in compensation was the business to be liquidated, increased from KSh 14.1 billion to KSh 16.2 billion, according to the lender’s unaudited financial statements for the period ender 31st March 2022.
Family Bank’s total interest income from loans, sale of government paper and deposits with other banking institutions increased from KSh 2.4 billion in Q1 2021 to KSh 2.9 billion in Q1 2022.
Total non-interest income increased from KSh 711.2 m to KSh 715.6m.
The lender cut its loan loss provisions from KSh 360.1 m to KSh 181.5 m. Its pre-tax profit crossed the one billion mark from KSh 728.8 m to KSh 1.1 billion.