M a r k e t N e w s

Kenya banks set for another year of record profits

Posted on : Wednesday, 24th December 2014

 Commercial banks braved the many challenges in the economy to close the month of November ahead of the full-year profits in 2013 — giving the clearest signal yet that they are on course to setting a new profits record this year.

The Central Bank of Kenya’s (CBK) latest report indicates that the lenders posted a Sh126.6 billion profit in the 11 months to November 30, compared to the Sh125.8 billion full-year pre-tax profit last year

To summarize we can say that:

The Kenyan banking industry income for 11 months increased to Sh127 bn compared to 2013’s full year of sh126bn.
Analysts attributed the robust profit growth to the high interest margins that banks continue to enjoy while cutting on operating costs.
Analysts, however, do not expect the profits growth to higher dividend payouts due to the impending higher capital requirement for the banks. 

Source : http://www.businessdailyafrica.com/Kenya-banks-set-for-another-year-of-record-profits/-/539552/2566150/-/oechcm/-/index.html
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