National Bank of Kenya became the first listed bank to report its Half Year 2017 results.
Highlights;
- •Total operating income fell by 30% to Sh 4.01 Billion.
- •Profit after tax fell massively by 42% from Sh 313 Million to Sh 170 Million.
- •Profit before tax also declined by 41% from Sh 439 Million to Sh 257 Million.
- •Net Interest income fell by 36% from Sh 4.44 Billion to Sh 2.86 Billion,
- •There was a massive reduction of 86% in Loan Loss Provision from Sh 1.6 Billion to Sh 235.3 Billion.
- •Loans and advances to customers declined by 12% from Sh 64.78 Billion to Sh 57 Billion.
- •On the positive, customer deposits increased by 3.4% to Sh 98.79 Billion.
As expected, the lender did not declare any interim dividend.
READ; KCB Group Tables Proposal To Acquire 70% Stake in National Bank Of Kenya
