NBK Loss: National Bank of Kenya has posted a Sh. 282.7 million loss in half year ended June 2018, a decline from Sh. 179.8 million profit booked at a similar period last year.
The six-month NBK loss was on account of reduced interest and non-interest income as the bank remained in breach of three capital ratios as required by Central Bank of Kenya.
Interest income fell by 9.6 per cent from Sh. 4.56 billion to Sh. 4.12 billion as non-interest income also dropped by 13 per cent to Sh. 1.1 billion. This reduced operating income by 10.1 per cent to Sh. 3.66 billion.
Operating expenses dropped by 8.2 per cent to Sh. 3.5 billion mainly on account of loan loss provision shrinking by 80 per cent to Sh. 47.8 million.
This was despite grows non-performing loans rising from Sh. 29.4 billion to Sh. 30 billion during the period under review.
It becomes the first lender to record a loss out of the many that have so far released half year results.
