Bank profits hit Sh56.8 billion

An Equity Bank outlet. The bank earned Sh6.19 billion in the first quarter of the year. FILE PHOTO | NMG

Commercial banks’ profit before tax for the first four months of 2019 rose by 15 percent to Sh56.8 billion up from Sh49.4 billion on increased lending, fresh data by the Central Bank of Kenya (CBK) shows.

According to the regulator’s report, customer deposits shrunk slightly to Sh3.37 trillion from Sh3.4 trillion as at March.

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Note: The results are not exact but very close to the actual.