Barclays 2018 full year profit rises to Sh7 billion

Barclays Bank
Barclay's 2018 full year profit after tax rose to Sh7.416 billion from Sh6.926 billion in 2017. [Photo: File]
NAIROBI, KENYA: Barclays Bank Kenya said on Monday its 2018 full year profit after tax rose to Sh7.416 billion from Sh6.926 billion in 2017.

Non-funded income rose 15 percent to 9.7 billion shillings and net interest income was up 1 per cent to 21.99 billion shillings, the bank said.

Barclays Kenya, part of South Africa’s Absa Group, said its total assets rose to Sh325 billion from Sh271.77 billion in 2017, while net loans and advances increased 5 percent to Sh177.35 billion.

The bank had said in March last year it wanted to attract at least five million new customers over five years through its digital platform that includes mobile phone-based lending.

Jeremy Awori, its chief executive, said the bank had already added 3 million new customers by the close of 2018 from 300,000 customers in March, with lending standing at Sh10 billion at the close of the year.

We are undertaking a survey to help us improve our content for you. This will only take 1 minute of your time, please give us your feedback by clicking HERE. All responses will be confidential.

Barclays Bank Kenya2018 Full Year Profit