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NIC Bank Group’s pretax profit rose 3 per cent in 2015. The lender plans to nearly double its branch network to tap faster growing markets such as retail banking, it said on Wednesday. The mid-tier lender renowned for asset financing said profit before tax rose to Sh6.4 billion from Sh6.23 billion in 2014, despite a surge in provisions for bad debts.
The bank said it would increase the number of outlets in Kenya to 50 by 2018 from 27 at the end of last year.
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