NIC Bank profit up 19 percent

Kenya; NIC Bank Group Ltd has reported a Sh4.7 billion profit before tax - a 19 per cent year-over-year increase, for the third quarter ending September 30, 2014, on the back of improved lending to key sectors of the economy.

Group Managing Director John Gachora, attributed the improved performance to robust initiatives by the Group to tap into the growing East African Community regional market. This is as it strengthens its diverse business portfolio spanning corporate banking, asset and trade finance, investment banking, financial advisory, stock brokerage and Bancassurance.