Family Bank has recorded a Kes 1.04 billion profit before tax for three months ending March 2023.
The Lender has attributed the 13.6 per cent growth to Kes3.4 billion in interest income.
Further, non-interest earnings, including fees and commissions, increased to Kes995.8 million, representing a 39.2 per cent rise.
Family Bank CEO and Managing Director Rebecca Mbithi noted that the operating environment has been tough.
“But the bank’s capital position and continued prudent risk management practices will see the Group ride the storm and continue taking advantage of the bankable opportunities in the market.” she said.
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Total assets increased from Kes122.3 billion to Kes131.9 billion on growing customer deposits, which increased 3.7 per cent to Kes92.8 billion.
“The Group continued to invest in modernizing its technology platforms, talent and on process improvements which saw the banks operating expenses increase by 15.9%,” the Bank said in a statement.
