The growth in net earnings was higher than
Interest income went up to Sh4.46 billion, a 19.2 per cent growth over Sh3.74 billion previously, according to its financial statement for the first quarter of the year published Thursday evening. Earnings from transaction fees and commissions climbed by a slim 3.8 per cent to Sh1.72 billion.
The lender reported that its loans rose by Sh10.28 billion over a corresponding period in 2013 to stand at a portfolio of Sh127.59 billion. Its customers deposited a total of Sh7.33 billion more to close the quarter at Sh149.64 billion, up from Sh142.31 in a similar period last year.
The bank owned 73.89 per cent by
Stancart said in
Investment banking has become increasingly attractive to commercial lenders seeking to grow their revenue streams. Largest bank by market value KCB was last February licensed to run an investment banking subsidiary,
Ecobank Kenya also said in February it expected its last December application to be cleared by the CMA by next month. Other banks with established investment banking arms include
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