Barclays bank has
recorded an 8% increase profits after tax in its half year trading period ending June
2015.
The bank's net profit rose from
4.2 billion shillings in June 2014 to 4.6 billion shillings as of June 2015.
‘This growth has been
witnessed by dedicating our resources to improve our systems and processes. We
have invested further in our infrastructure and sales capability as a
way of getting new clientele.We are focused to execute strategies for
sustainable growth,’ says Jeremy Awori the CEO for Barclays bank.
During the official
release of the results Chief Financial Director Yusuf Omari confirmed a 10% growth in consumer
banking.
‘This is as a result of
the products we offer like lending of money and also emphasis we have made on
mortgage and asset based financing’.
‘The launch of the
Mortgage Centre in the first half year is already yielding positive results for
the bank. As at June, the value of Mortgage applications recorded was almost double
what the bank recorded during the whole of 2014. On its part Bancassurance shows
promise and we expect it will be a major contributor of our non funded income line
within the next 2-3 years,’ explains Awori.
The
bank is also rolling out a robust SME strategy to enable it play a
bigger role in the development of this important sector of the economy
and the bank has set aside a 30 billion shillings kitty to lend to local
enterprises.
The bank also
witnesses a 10% growth in customer deposits which reached 163 billion shillings
as compared to last year where the figures read 148 billion shillings.
The Barclays Bank
Board recommends that there will be an interim payment of 20cents per every share purchased.
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