Create Profile

Creating your profile will enable you to submit photos and stories to get published on News24.

Please provide a username for your profile page:

This username must be unique, cannot be edited and will be used in the URL to your profile page across the entire 24.com network.

Facebook Sign-In

Hi News addict,

Join the News24 Community to be involved in breaking the news.

Log in with Facebook to comment and personalise news, weather and listings.


MyNews24 is a user-generated section of News24 Kenya. The stories here come from users.

Latest Badges:

View all Nechesa Chemoi898's badges.

Barclays Bank of Kenya reports 11% increase in net profit

18 November 2014, 11:51 Nechesa Chemoi

Nairobi - The Barclays Bank of Kenya announced a net profit of KES 6.2bn for the nine months ended 30 September, 2014. 

The profit represents an 11% growth in net profit compared to the same period last year. 

The bank attributed the result mainly due to growth in interest income supported by its strategic focus to grow the balance sheet.

During the period, total interest income grew by 8% to KES 17bn on the back of growth in interest earning assets and better margin management.

The total assets rose by 8% to KES 219bn, and net customer assets increased by 9% to KES126bn.

The bank also saw an 11% growth in customer deposits to KES153bn while the capital adequacy ratio remained solid at 16.5% against a regulatory limit of 14.5%.

Commenting on the results, the bank’s Managing Director, Jeremy Awori said their growth in profit was boosted by the successful execution of our business agenda coupled with steady balance sheet growth which will deliver future income to the bank.

Also read: TransCentury says 2013 profit fell by 30 percent

“This was in turn complemented by prudent cost management and an acceleration of our innovations agenda.

“In addition, new market firsts such as the Zidisha Bonus Savings account and the ZidishaSalo bundled account, which includes features such as retrenchment cover and unsecured lending of up to KES6m, have helped to augmentour competitive edge,” he said. 

These innovations are a demonstration of our stated purpose as a bank which is to help people achieve their ambitions in the right way, Awori added.

He concluded by saying that Barclays Bank of Kenya’s focus for 2014 is about accelerating growth and based on these numbers and the sound fundamentals which they continue to deliver, they are confident that their plan to become one of Kenya’s top three banks by revenue by 2016 is on track.

For the latest on national news, politics, sport, entertainment and more follow us on Twitter and like our Facebook page!

- MyNews24

Disclaimer: All articles and letters published on MyNews24 have been independently written by members of News24's community. The views of users published on News24 are therefore their own and do not necessarily represent the views of News24. News24 editors also reserve the right to edit or delete any and all comments received.

Read News24’s Comments Policy

Comment on this story
Comments have been closed for this article.

Read more from our Users

Submitted by
Cyril Mike Odhiz
Kenyans furious on young lady aft...

A young Kenyan woman is the talk of town after she posted a photo with her elderly lover after a round of steamy sex, or so the photo suggested.  Read more...

Submitted by
Kiplangat langat
Uhuru could be a one term Presid...

Bomet governor Isaac Ruto has said that President Uhuru Kenyatta could be a one term President if he fails to increase allocations to the counties. Read more...

Submitted by
Mody Sammy
35 year old farmer a new milliona...

A 35 year old farmer from Mpeketoni Lamu county has become the latest millionaire in town as she became winner in the ongoing ‘Shinda Mamili na Story Ibambe’. Read more...

Submitted by
Shakila Alivitsa
Leave your past relationship bagg...

Leave your past relationship baggage at the door when you start a new relationship. Read more...

Submitted by
Shakila Alivitsa
Advice from a young married Kenya...

I was just going to get water in the office kitchen and thought a simple hi was fine until I ended up in an hour long conversation with someone. Read more...

Submitted by
Shakila Alivitsa
Helping you find the type of man ...

To put it simply, you can’t go looking for fish in a meat market; you have to go to a fish market. Read more...