Barclays Bank half-year profit drops by 10per cent over debt provisions

Barclays Bank Kenya has increased its loan loss provisions by more than three times to record a 10.2 per cent drop in net profit for the half year period ended June 31, 2016. PHOTO: COURTESY

Barclays Bank Kenya has increased its loan loss provisions by more than three times to record a 10.2 per cent drop in net profit for the half year period ended June 31, 2016.

In the six months, the after-tax profit was Sh4.09 billion, a decline from Sh4.6 billion posted in a similar period last year.