Total income went up 14 percent to Sh6.2 billion with loans and advances up by nine percent to Sh127.6 billion from Sh117.3 billion recorded in 2013.
Net interest income grew by 19 percent to Sh4.5 billion driven by strong growth in volumes but weighed down by the lower interest rates charged in line with falling interest rates in the market while total operating costs remained flat at Sh2.4 billion.
Commenting on the results,
Manjang said there are growth opportunities in infrastructure development and financing, energy and manufacturing and they will continue to invest in digital channels to deepen client reach.
Fees and commissions grew by 7 percent to Sh942 million on account of a higher number of large value transactions during the quarter while customer deposits increased by 5 percent to Sh149.6 billion from Sh143 billion in 2013.
Investment in government securities increased from Sh47.9 billion to Sh55.4 billion on the back of the growth in customer deposits.
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