Companies

Barclays posts Sh1.94bn in Q1 net profit

BBK

Barclays Bank Kenya (BBK) announced a 16.9 per cent rise in net profit in the first quarter, helped by growth in interest income. Photo/FILE

Barclays Bank Kenya (BBK) announced a 16.9 per cent rise in net profit in the first quarter, helped by growth in interest income.

The lender’s net profit stood at Sh1.94 billion in the three months ending March 2014 compared to Sh1.66 billion for a similar period last year.

Net interest income increased 5.3 per cent to Sh4.76 billion from Sh4.52 billion for corresponding quarter, with the loan book growing to stand at Sh114.9 billion from Sh108.2 billion.

Customers’ savings rose to Sh144.3 billion from Sh140 billion last year.

The lender, a subsidiary of Barclays Plc, said its total operating expenses rose by 9.8 per cent to Sh4.03 billion from Sh3.67 billion.

BBK stock was trading at Sh17 on Friday 12:52pm at the NSE, same price from Thursday’s close, which is a six per cent drop over the last 12 months.