CFC Stanbic posts 34 pct rise in profit
08 August 2014, 19:21
Nairobi - Kenyan financial group CFC
Stanbic Holdings Ltd. posted a 34 percent rise in
pretax profit to 4.3 billion shillings ($49 million) for the
first six months of the year, citing a jump in net interest
Banks in east Africa's biggest economy have reported strong earnings so far in 2014, buoyed by growth in lending.
CFC Stanbic, which is controlled by South Africa's Standard
Group, said on Friday net interest income increased 19
percent to 4.3 billion shillings. It operates CFC Stanbic Bank
and a financial services firm.
Earnings per share rose to 8.49 shillings from 5.57
shillings in the same period a year ago.
The results were issued after the market had closed. The
company's shares had ended the session unchanged at 127
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