NAIROBI: Kenya’s NIC Bank posted a 6 percent rise in its pretax profit in the first quarter to 1.43 billion shillings ($15 million) thanks to higher net interest income, it said on Wednesday.
The mid-tier lender, which also has operations in neighbouring Uganda and Tanzania, said its net interest income rose to 2.19 billion shillings in the period, from 1.73 billion shillings a year earlier.
NIC’s earnings per share for the period however fell to 1.55 shillings in the period from 1.79 shillings in the same period last year, weighed down by foreign exchange-related losses from its overseas operations and a change in the value of its financial assets available for sale.
