CFC Stanbic Bank's nine-month profit rises 36 pct
22 November 2012, 13:11
Nairobi - CFC Stanbic Bank posted a 35.6 percent increase in pretax profit for the nine months ended September to 3.2 billion Kenyan shillings ($2.33 million) on the back of higher interest income, it said on Thursday.
Operated by CFC Stanbic Holdings, the bank is ranked among the top five banks in asset terms in Kenya.
During the first nine months of the year, CFC Stanbic Bank's total interest income increased by 57 percent, to 9.1 billion shillings from 5.78 billion shillings a year earlier.
Non-interest income increased to 5.4 billion shillings from 3.2 billion shillings. ($1 = 85.8000 Kenyan shillings) (Reporting By Drazen Jorgic; Editing by Chris Gallagher).