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Barclays Bank half year profit drops by Sh0.5 billion

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Barclays Bank of Kenya (BBK) has posted a 13% decline in the first six months of 2017 compared to the previous year.

The bank posted Ksh 3.5 billion in net profit in the period ended June 30, 2017, compared to Ksh 4 billion same period last year.

The decline is attributable to a reduction in revenue as total interest income reduced by Sh766 million in the period under review to hit Ksh13.1 billion from Ksh 13.9 billion recorded same period last year amid an interest rate capping regime.

Non Interest income also recorded a 14% decline in the period under review to post Ksh 4.3billion from Ksh 5.1 billion same period last year.

Loans and advances went up to Ksh 163.7 billion up from Ksh 153.3 billion representing a 6 percent increase while customer deposits hit Ksh 188.6 billion up from Ksh 182.8 billion. Total assets stood at Ksh 268 billion.

“The board of directors has resolved to declare an interim dividend of for the year 2017 of Sh0.20 per ordinary share of the company to be paid on or about Friday, 13 October 2017 to shareholders registered at close of business on Friday 8, September, 2017,” Management said.

Credit: Capital FM.

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