Family Bank full year net profit up 55pc to Ksh 5.4B

Family Bank full year profit after tax has grown by 55pc to hit Ksh 5.4 billion which the lender said was supported by higher interest income.

The lender advanced Ksh 105.9 billion in loans to customers, representing a 14pc year-on-year growth. This helped the bank realize a net interest income growth of 46pc to 15.6 billion.

“We are very proud of this performance which has been made possible by our customers and a dedicated team committed to delivering value to our shareholders and investors,” said Nancy Njau, Famili Bank CEO.

In addition, the lender booked Ksh 4.6 billion in non-interest income, a growth of 5pc that was mainly fuelled by fees and commissions.

Increased lending occasioned a 21.6pc jump in gross non-performing loans to Ksh 17.6 billion .

Total assets grew by 24pc cent to Ksh 208 billion, while customer deposits increased by 20p to Ksh 151.8 billion, reflecting strong confidence from customers and investors.

The lender’s board has recommended a final dividend of one shillings and 20 cents per share. PTC