NIC Bank says pretax profit up 10 pct in first half
19 August 2015, 21:32
Nairobi - NIC Bank increased lending in the first half to boost its pretax profit
10 percent from a year earlier to 3.2 billion shillings ($31 million),
it said on Wednesday.
The lender, which also operates in Uganda and Tanzania, said loans
grew 18 percent to 108 billion shillings, with growth spread across
corporate and retail clients.
"For the second half of 2015, our focus remains on
managing funding costs and operating expenses in addition to minimizing
impairment costs through proactive risk management," John Gachora, group
chief executive, said in a statement.
NIC said profit growth also reflected the performance of its insurance and securities brokerage businesses.
($1 = 103.2500 Kenyan shillings)
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