National Bank of Kenya’s (NBK) net profit fell by 73.5 per cent in the nine months to September. This is after its interest income from loans fell by half.
It’s net earnings dropped to Sh. 138 million from Sh. 521 million in a similar period last year.
In the nine months to September, NBK posted a 6.9 per cent drop in customer loans to Sh. 57.9 billion, while customer deposits inched up 1.8 per cent to Sh. 97.4 billion.
The bank’s volume of net non-performing loans stood at Sh. 19.8 billion during the period under review, slightly lower than what they were last year.
Its investment in securities, mainly government debt, increased 42 per cent to Sh. 38.7 billion, which helped its earnings government securities jump 36.7 per cent to Sh. 3.2 billion.
