Sidian records Sh72 million profit before tax

Sidian bank has recorded Sh72 million profit before tax, a 28 per cent drop from the previous year’s profitability of Sh99 million.

The performance coming in the wake of a challenging year due to the Covid-19 pandemic is attributed to growth in the loan book by 31 per cent while customer deposits grew by 32 per cent. As a result, the Bank’s balance sheet increased by 27 per cent from Sh26.5 billion to Sh33.5 billion.