Barclays Bank Kenya reported a profit of KES 6.40 billion for the nine months ended September 2015. This was a 2.68% increase compared to Q3 2014 profit of KES 6.23 billion.

Customer deposits grew by 4.33% to KES 159.45 billion from KES 152.83 reported in September 2014. Asset base grew by 1.04% to KES 220.77 billion compared to KES 218.77 billion in September 2014.

Fluctuations of the Kenyan shilling and high interest rates led to the company’s interest expense increasing by 45.22% to KES 3.34 billion.

Interest Income grew by 8.94% to KES 18.54 billion from KES 17.02 reported in September 2014. The Bank’s loan book grew by 10.09% to KES 138.99 billion up from KES 126.26 in September 2014.

The bank’s MD Jeremy Awori said that the review period had been characterised by turbulence at the macroeconomic level arising from fluctuation of the local currency and high interest rates, with the 91-day T-Bill reaching a high of 22 per cent.

For more information:

Barclays Bank Kenya 2015 Q3 Results

Barclays Q3 profit up 3pc