NIC Group records Sh4.1 billion after-tax profit

NIC Group has reported a 2.02 per cent jump in profit in its after tax-profit to Sh4.22 billion compared to Sh4.14 billion recorded the previous year.

During the period under review, the group’s total interest income increased to Sh19.29 billion from Sh18.41 billion the previous year.

Interest from loans and advances to customers decreased to 12.33 billion from Sh13.14 billion in 2017 while that from government securities jumped to Sh6.8 billion from Sh5.2 billion.

The group’s total asset went up to Sh208.49 billion from Sh206.17 billion in 2017.

Its loan and advances to customers decreased by 1.41 per cent to Sh118.07 billion from Sh119.76 billion the previous year.

The board of directors have recommended a payment of a first and final dividend of Sh1.25 per share subject to the approval of shareholders.