National Bank of Kenya posts 16 pct rise in first-quarter profit
29 May 2014, 13:04
Nairobi - National Bank of Kenya reported a 16 percent rise in first-quarter pretax profit to 588.5 million shillings ($6.70 million) on Tuesday.
The bank, which is preparing for rights issue to raise funds for expansion, said net interest income increased 20 percent to 1.55 billion shillings.
Shares in the bank were trading 3 percent down by midday, at 30.75 shillings, on worries over a 60 percent jump in bad debts during the period.