Kenya banks set for another year of record profits

Posted on : Wednesday , 24th December 2014

Commercial banks braved the many challenges in the economy to close the month of November ahead of the full-year profits in 2013 — giving the clearest signal yet that they are on course to setting a new profits record this year.

The Central Bank of Kenya’s (CBK) latest report indicates that the lenders posted a Sh126.6 billion profit in the 11 months to November 30, compared to the Sh125.8 billion full-year pre-tax profit last year

To summarize we can say that:

• The Kenyan banking industry income for 11 months increased to Sh127 bn compared to 2013’s full year of sh126bn.

• Analysts attributed the robust profit growth to the high interest margins that banks continue to enjoy while cutting on operating costs.

• Analysts, however, do not expect the profits growth to higher dividend payouts due to the impending higher capital requirement for the banks.

Source : http://www.businessdailyafrica.com/Kenya-banks-set-for-another-year-of-record-profits/-/539552/2566150/-/oechcm/-/index.html

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