This archive report was first published on 24 August 2021.
Published on August 24, 2021, Family Bank has seen its half-year profit soar by 83.6 per cent to Ksh.1.2 billion from a lower Ksh.638.5 million last year.
The bank's total operating income rose by 23.8 per cent to Ksh.5.2 billion, with net interest income increasing by 27.6 per cent to Ksh.3.7 billion and non-interest funded income (NFI) growing by 15.4 per cent to Ksh.1.5 billion.
Despite a 36.2 per cent increase in loan-loss provision expenses to Ksh.614.9 million, Family Bank has largely held off growth in costs.
The bank's stock of gross non-performing loans (NPLs) has hit Ksh.10.8 billion, leading to a greater provision.
Family Bank's total assets now stand at Ksh.100.1 billion, including Ksh.63.4 billion in net loans and advances to customers.
Customer deposits remain flat at Ksh.76 billion, having grown from Ksh.66.7 billion in June 2020.
Family Bank's earnings per share have improved to 83 cents from 50 cents subsequent to the profit surge.
