CFC Stanbic posts 34pc rise in profit

Kenya: CFC Stanbic, which is controlled by South Africa’s Standard Group, said on Friday net interest income increased 19 per cent to Sh4.3 billion. It operates CFC Stanbic Bank and a financial services firm.

Earnings per share rose to Sh8.49 from Sh5.57 in the same period a year ago. The results were issued after the market had closed. The company’s shares had ended the session unchanged at Sh127.Banks in east Africa's biggest economy have reported strong earnings so far in 2014, buoyed by growth in lending.