News Column

Chase Bank Half-Year Profit Up By 55 Percent

August 5, 2014

Constant Munda

SME-focused Chase Bank Group said yesterday net earnings rose 55.1 per cent to Sh1.07 billion during the half-year period ended June 30 compared with a similar period last year on increased interest income and transactions fees.

Net interest surged 83.52 per cent or Sh1.47 billion to Sh3.23 billion, the lender said in a statement,while transaction fees and commissions, and foreign exchange business boosted growth in non-funded stream by Sh1.51 billion-a 49.3 per cent jump- to Sh3.06 billion.

Loans were Sh15.36 billion better to Sh50.08 on June 30, with a favourable bad debt to loan ratio of 1.4 per cent or Sh705 million.

A more than three-fold growth in customer accounts to 201,326 in June 2014 from 47,169 a year ago helped drive deposits by 54.2 per cent or Sh24.06 billion to Sh68.43 billion.

For more stories on investments and markets, please see HispanicBusiness' Finance Channel

Source: AllAfrica

Story Tools Facebook Linkedin Twitter RSS Feed Email Alerts & Newsletters