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CFC Stanbic's Pretax profit soars in Q2

12 August 2013, 14:21

Nairobi - CFC Stanbic Bank posted an 81.7 percent rise in pretax profit for the second quarter from a year ago to 3.24 billion Kenyan shillings.

Banks in east Africa's biggest economy have reported higher earnings so far in 2013, buoyed by the growth of lending on the back of robust economic growth.

CFC Stanbic, which is controlled by South Africa's Standard Group, said on Monday its net interest income increased 14.67 percent to 3.61 billion shillings while earnings per share rose to 5.57 shillings from 4.43 shillings in the same period a year ago.

- Reuters

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