Barclays Bank first quarter net profit rises by 7.5% to Ksh. 1.8 Billion

Jeremy Awori - Barclays Bank Kenya MD

Barclays Bank Kenya’s net profit for the first quarter ending March 2018 has increased by 7.5% to Ksh. 1.8 Billion. They reported Ksh. 1.7 Billion in the previous period.

The bank attributed the increase to their investment in government securities. Their investment in government bonds and Treasury bills went up 52% to Ksh. 67 Billion. On the other hand, lending to customers declined 1.8% to Ksh. 165.5 Billion.

Banks have increasingly lent less money to customers after the interest cap law came into place. They have chosen instead to invest in government securities which has less risk and more predictable returns.

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