The drop was attributed to rise in operating costs which increased by Sh16 billion compared to Sh14 billion in 2012.
Releasing the financial performance,
Omari also noted that the rise in costs was partially due to investment in technology which focused on improving the core banking platform, mobile and Internet banking services as well as online bulk payment system.
Total income rose by 2 percent to Sh27.9 billion from Sh27.4 billion while total assets increased by 12 percent to Sh207 billion from Sh185 billion.
Net interest income rose by 4 percent to Sh18 billion on the back of growth interest earning assets, despite the pressure of declining interest rates.
Non-interest income dropped by 2 percent to Sh9 billion mainly due to reduced foreign exchange income following a stable currency market in the year.
Loan and advances to customers rose steadily by Sh14 billion to close the year at Sh118 billion.
Shareholders will take home
Last year shareholders got a
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