Family Bank Records Ksh 2.6B Pretax Profit

Speaking during the release of results, Family Bank managing director Peter Munyiri has attributed the bank's performance to increased lending as well as diversification of its products offering.

 

The result represents a 49 percent increase in profitability over the previous year.

 

Munyiri also noted that the bank's lending grew by thirty six percent to hit 37.9 billion shillings.

 

Following the results, shareholders of the bank will receive a dividend payment of fifty cents per share.

 

Munyiri further revealed that the bank plans to expand its branches to ninety two by the end of this year as it seeks to expand in the East African market. 

By Wangui Ngechu

 

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