Barclays Bank of Kenya has announced a profit before tax of KES 3.1bn for the period ended 31 March 2015  which represents a 10% growth compared to the same period last year. The bank, one of Kenya’s leading financial solutions providers, has attributed the result mainly to a 13% growth in interest income.

Key Highlights for the three month period were:

• Total assets rose by 15% to KES 231bn (2014: 201bn)
• Net customer assets increased by 7% to KES 125bn (2014: 117bn)
• 8% growth in customer deposits to KES 156bn (2014: KES 144bn)
• Capital adequacy ratio remained rock solid at 18% against a regulatory limit of 14.5%

Other Highlights include:

Income

Net interest income increased by 8% to KES 5.1 billion up from KES 4.8 billion in the same period last year. This was on the back of growth in interest earning assets despite the pressure of declining net interest margins. Total Operating Income rose by 7% to KES 7.4 billion compared to KES 6.9 billion in the same period last year.

Asset Quality

The gross non-performing loans increased marginally by 1% compared to the same period last year; this was way below the industry trends. This is a reflection of the quality of our asset book despite the challenges being posed by insecurity and a slump in both the agricultural and tourism sectors.

Capital

The capital adequacy ratio for the bank as at end of March was 18% which was higher than the 14.5% prescribed by CBK meaning that the Bank is well capitalised to support future balance sheet growth.

Liquidity

The liquidity ratios are very strong at 45% compared to the regulatory minimum of 20%. This position provides us with a strong base to meet our customers’ needs for the rest of the year and beyond.

About Barclays Bank of Kenya
Barclays Bank of Kenya is one of Kenya’s leading financial solutions providers with a history spanning nearly a century in this market. The bank’s mission is to help people achieve their ambitions in the right way in order to Prosper. The bank’s ambition is to be the ‘Go-To’ bank for all its stakeholder communities. 

With a history spanning 99 years, Barclays Bank of Kenya has invested heavily in Kenya. The bank has 122 branches countrywide, more than 237 ATM’s and 800,000 customers making it one of the country’s largest banks. We cater for all customer segments namely: Retail Banking, Business Banking, Corporate & Investment Banking, Treasury advisory services and Markets. Further, Barclays has played a pioneering role in the local financial services sector as well as socio economic front as well as on the socio economic front.

About Barclays
Barclays is a major global financial services provider engaged in personal banking, credit cards, corporate and investment banking and wealth and investment management with an extensive international presence in Europe, the Americas, Africa and Asia. Barclays’ purpose is to help people achieve their ambitions – in the right way.

With over 300 years of history and expertise in banking, Barclays operates in over 50 countries and employs approximately 140,000 people. Barclays moves, lends, invests and protects money for customers and clients worldwide.

For further information about Barclays, please visit our website www.barclays.com