Kenya’s CfC Stanbic Bank’s H1 profit jumps 37 pc

Kenya’s CfC Stanbic Bank, the main business of CfC Holdings, posted a 36.5 percent jump in pretax profit for the first half of the year, it said on Monday, without disclosing any reasons for the rise.

Kenya’s CfC Stanbic Bank, the main business of CfC Holdings, posted a 36.5 percent jump in pretax profit for the first half of the year, it said on Monday, without disclosing any reasons for the rise.

Ranked among the largest banks in the east African nation, CfC is controlled by South Africa’s Standard Bank through CfC Holdings, which also runs a financial services firm.

CfC Stanbic Bank, which posted a pretax profit of 1.78 billion shillings ($21.16 million) for the six months to 30 June, also saw its total income rise 39.3 percent to 6.64 billion shillings.

Earnings per share also jumped to 4.43 shillings, up from 2.82 shillings during the same period in 2011.

Reuters

 

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