L-R Moses Muthui- Head of strategy BBK, Jeremy Awori- Managing Director BBK, Yusuf Omari- Chief Finance Officer BBK
Barclays Bank Kenya has today announced that it registered a profit after tax of Ksh. 7.4 billion for the financial year ended 31 December 2018. This represents a growth of 7% compared to a similar period in the previous year in which they reported a net profit of Ksh. 6.9 billion.
Income in the year increased to Ksh. 31 billion from Ksh. 30 billion in 2017. The income was driven by loans to customers and also investment in government securities. Income from government securities increased to Ksh. 7.3 billion from Ksh. 5.7 in the previous year.
Operating expenses on the other hand increased to Ksh. 21 billion from Ksh. 19.8 billion in 2017. Loan loss provision increased to Ksh. 3.8 billion while other expenses such as staff costs and rent went down to Ksh. 9.7 billion and Ksh. 1.1 billion respectively.