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Barclays posts Sh. 7.5 billion full year net profit

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Barclays full year profit: Barclays bank of Kenya has posted a 7 per cent net profit gain in the full year 2018. The bank has netted Sh. 7.47 billion. This growth was boosted by higher non-funded income.

The lender’s gross non-performing loans increased by Sh. 1.8 billion the equivalent of 14.88 per cent to Sh. 13.9 billion in the period from Sh. 12.6 billion the previous year as its loan loss provision, booked as an expense in the income statement, jumped 24.2 per cent to Sh. 3.87 billion.

Following this performance, the bank declared a final dividend of 90 cents per share, bringing the total full-year payout to Sh. 1.1 per share representing a 10 per cent rise.

Barclays also announced that it had closed the year with a loan book of Sh. 177.35 billion, a 5 per cent jump from the previous year, while customer deposits increased 11.5 per cent to Sh. 207.4 billion.

The bank’s non-interest income rose by Sh. 1.24 billion representing a 14.7 per cent jump to close the financial year at Sh. 9.7 billion. These included fees and commissions, dividend income and foreign exchange income.

The lender’s net interest income — including loans to customers and government securities –- remained largely flat, rising by Sh190 million, or the equivalent of 0.8 percent, to Sh21.99 billion.

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