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Gulf Bank marks 10th anniversary

BUSINESS
By Standard Reporter | April 13th 2018
Gulf African Bank. [Photo by Wilberforce Okwiri/Standard]

Gulf African Bank is set to mark its 10th anniversary this year, which also marks a decade since Shari’ah compliant banking debuted in the Kenyan market.

The bank recorded a 15 per cent growth in total assets to reach Sh31 billion as at December 31, 2017 from Sh27 billion as at the same period in 2016, a growth of Sh4.1 billion.

The growth in the balance sheet size, the lender said in a statement, was driven by the growth in customer deposits and additional long-term funding received for financing Small and Medium Enterprises (SMEs).

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