NIC Bank lifted by rising interest income

Kenya: Rising interest income helped NIC Bank to a 24 per cent jump in full-year pre-tax profit, the bank announced yesterday, adding that it sees further growth being driven by targeting retail customers and small and medium-sized businesses.

The bank, which also operates in Tanzania and Uganda, said the 2014 pre-tax profit of Sh6.23 billion was helped by an 18 per cent rise in interest income to Sh11.4 billion.